Chengdu | LOGISTICS：E-TAILERS & 3PLS DRIVE DEMAND IN Q4 2020
In Q4, five logistics centers launched with total GFA of 477,000 sq metres (5.1 million square feet), setting a new record high for a single quarter. QOQ demand is picking up with e-tailers’ and 3PLs’ further expansion.
In 2021, we expect new supply in Qingbaijiang will peak, with a total GFA of over 500,000 square metres (5.4 million square feet). Affected by the supply peak, we expect the city-wide vacancy rate will increase in 2021, and the average rent will be under downwards pressure. We recommend tenants expanding or looking for space consider the cluster of new, cost-effective projects slated for Qingbaijiang.