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Chengdu | 2022 H1 | Logistics: Vacancy decreasing HOH, with 3PLs, and emerging & traditional e tailers taking space

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20220706 logistics

Chengdu | 2022 H1 | Logistics: Vacancy decreasing HOH, with 3PLs, and emerging & traditional e tailers taking space

Dear Valued Client,

In H1, 61,300 sq m GFA (659,600 sq ft) of supply was delivered, pushing Chengdu’s total logistics stock to 5.5 mil sq m (59.2 mil sq ft). 3PLs, traditional e tailers and emerging retailers were active with net absorption of 134,600 sq m (1.4 mil sq ft), a YOY decrease. Benefiting from decreasing supply, city wide vacancy dropped 1.5pps HOH to 16.7%. Average net effective rents rose 0.3% HOH to RMB23.9 (USD3.6) per sq m per month. In 2022 2026, we forecast the annual average supply will be 339,800 sq m (3.7 mil sq ft).
• We recommend tenants expanding or looking for space consider the cluster of new, cost effective projects in Qingbaijiang due to ample leasable space in the submarket.


20220706 square

Chengdu | 2022 H1 | Logistics: Vacancy decreasing HOH, with 3PLs, and emerging & traditional e tailers taking space

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