Our Spec Map shows that circa 8.7 million sq ft of speculatively developed space was under construction by end-January 2019. This indicates that 2019's total completed warehouse space could potentially surpass this cycle's previous record of circa 9.0 million sq ft witnessed in 2016.
To put these figures into context, the 5-yr annual average (2014-'18) amount of speculative space completed stands at 5.5 million sq ft, and prior to that the market saw hardly any activity post-2008 global financial crisis.
The below chart highlights the breakdown by region of the total space being built and their respective average unit size to help you summarise some of the key data of the Colliers International Spec Map which is released bi-annually in January and July.
I hope you will find this study highly informative and if you would like further information, please do not hesitate to get in touch.
Head of Industrial & Logistics
+44 7831 436 096