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Sme And E-Commerce Drive Industrial Property Use To Record Level

First 6 months of 2017:

  • Industrial space take-up at highest level ever 
  • Largest logistics property transaction ever 
  • Growth in SME stimulates industrial property take-up
  • E-commerce impacts significantly on demand for logistics space

The take-up of industrial space has during the first 6 months of 2017 reached a level of 2.3 million m², divided into 1 million m² industrial property and 1.3 million m² logistics property. That represents a 61% growth on the corresponding period of 2016 and is the highest take-up figure ever recorded during the first 6 months of any year. With this volume, the take-up of logistics property during the past half year is only 500,000 m² short of the take-up figure for 2016 as a whole. At the same time, vacancy is lower in the industrial property segment. Availability dropped by 12% to 8.3 million m², extending this trend into the third successive year. This appears from the latest figures released by Cushman & Wakefield.

Frank van der Sluys Head of Research Cushman & Wakefield: “We expect that take-up for 2017 as a whole will reach 2 million m² for both industrial and logistics, thus totalling 4 million m². That would break the previous record, from 2007, by 300,000 m² and represent a 12% rise on last year. The drivers behind this are the growth of the SME sector and e-commerce. We see that SME turnover has been rising for some time and hear from our colleagues active in the various regions that this is currently having an impact on the demand for industrial space. Also, the improved take-up of logistics space cannot be viewed separately from the rising emergence of e-commerce. That influence will only become more pronounced in the coming years”.

An important share of the demand for industrial space focuses on new, generally logistics, property. Nevertheless, standing properties can also count on increased attention. Although the market has been improving for some time, the average rent has risen for the first time since 2009. 

Source: Cushman & Wakefield

Largest transaction ever

Not only has the take-up of logistics property grown, the transactions are also becoming ever larger. During the first 6 months of 2017, the largest logistics transaction ever was realised with the construction of a logistics centre by Inditex of 170,000 m² in Lelystad. The complex is intended for the distribution of various fashion brands. Also noteworthy is that the smallest transaction on the list, namely 40,000 m² by XPO Logistics in Eindhoven, is the largest number 10 ever. The top-10 largest transactions on the industrial property market consist entirely of logistics transactions, 9 of which involve newbuild. In that sense, the top-10 offers a good reflection of the current market dynamics

Source: Cushman & Wakefield


Market dynamics during the past 6 months have shown a broader geographical spread than in preceding years. Not only the logistics hotspots are popular, large transactions also take place elsewhere. No fewer than half of the 10 largest transactions were recorded outside the logistics hotspots, namely in Lelystad, Mijdrecht, Nieuwegein, Veldhoven and Eindhoven.


Although the industrial sector saw its share within take-up in the commercial property sector as a whole drop by 50% to 44%, the recorded take-up figures are in absolute terms very high. Market dynamics for industrial property are expected to remain strong during the second half of the year. For 2017 as a whole, take-up is expected to be 15% up on 2016. Expectations for the second half of the year foresee a slowdown in the growth of logistics property take-up. This, in combination with the continued strong trend in industrial property, will cause a drop in the percentage of logistics property in the total take-up. Nevertheless, viewed over the entire year, the take-up of logistics property will be approx. 10% higher than in 2016.

Click here to view the fact sheets The Netherlands office and industrial property market mid 2017.

Note to the editors:

The Industrial Property Market Fact Sheet mid-2017 of Cushman & Wakefield is available here. Next week, we will release the Netherlands Complete bundle with all regional fact sheets for the office and industrial property market.

For further information, contact:

Frederike Lengers | Phone: 020 800 2048 | Mobile: 06 4688 1872

Sophie van Gorsel | Phone: 020 750 0410 | Mobile: 06 2238 2045