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2017 | Year-end Review | Russia | St. Petersburg | Industrial Market

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Commissioning volume in 2017 was at its lowest level since 2011. Only 88,400 sq m of quality warehouse space had been commissioned with 21,600 sq m in speculative supply - 13% of the speculative commissioning previous year.The main volume of the new supply (39,900 sq m) accrues to unspeculative logistic and distribution centres. As it was last year, new supply also offers a certain volume of warehouse spaces (26, 900 sq m)built as owner occupied. Decreasing trends of speculative development partly may be due to satisfaction of large retailer’s main inquires which took place previous years. This was achieved through the construction of a large number of built-to-suit spaces. At the same time, the unwillingness of developers to invest in new quality warehouses without preliminary agreements with customers is still a trend.

2017 | Year-end Review | Russia | St. Petersburg | Industrial Market

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