Since the beginning of 2024, the volume of investments in warehouse real estate has increased 2.7 times, CORE.XP analysts found.
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In total, according to the preliminary results of two quarters of 2024, about 70 billion rubles were invested in various segments of production and warehouse assets in the Russian Federation. The result exceeded the value for the same period last year by 2.7 times.
Classic warehouses were in greatest demand. Thus, about 86% of the total investment was in big box projects. The rest was distributed between development sites, which accounted for 3%, projects in the light industrial segment (5%) and production facilities (6%).
At the same time, each of the segments shows positive dynamics in terms of investment demand. For example, in the big box segment, the volume of investments in the first half of the year increased 3 times compared to the same period last year, and its share in the total volume of investments in all formats of industrial and warehouse real estate increased from 78% to 86%.
In classic warehouses, the most popular format among investors has become build-to-suit warehouses, leased to the largest federal retailers and online retail players – they accounted for almost 50% of all investments in this real estate format in 2023.
The light industrial format is also gaining popularity. Thus, according to commercial real estate developer Parametr, over the year the number of requests for the purchase of light industrial format for investment purposes has doubled and today accounts for about 10% of the total volume of requests received by the company.
“The priority of investment in favor of “large warehouses” is primarily related to the format of the buildings: in logistics parks, the size of the asset available for investment purchase, as a rule, starts from 10,000 sq. m. m, while, for example, the light industrial concept allows you to purchase small blocks with an area of 400 sq. m. m. – says Vasily Grigoriev, director of the market research department of CORE.XP. “ In addition, the market for “large warehouses” has grown to quite large sizes during its existence, which is more than 20 years, while light industrial entered a phase of active growth only a few years ago.”
In general, these are different markets with different ranges of potential investors: for example, big box properties are mainly purchased by large end users and investment funds. And the light industrial format is attractive primarily for private players purchasing premises for subsequent rental, as well as for small and medium-sized businesses using these facilities for their own needs, added Vasily Grigoriev.
CORE.XP: office construction volumes have tripled compared to 2023.
