There was 448,400 sq ft taken in the opening quarter of 2026 across 18 deals, creating an average deal size of 24,900 sq ft. While the amount of space taken declined by 20% compared to Q1 2025, this was driven by a smaller average deal size, with the number of transactions increasing by 29%. Delivery of new stock carried momentum into the beginning of 2026 with 251,600 sq ft completing across 11 units. The average completion size of 22,900 sq ft was significantly below the five-year average of 94,200 sq ft, reflecting the delivery of a number of smaller light industrial units. The vacancy rate rose to 2.9% in Q1, up from 2.5% in the previous quarter and 2.3% in Q1 2025. Meanwhile, market activity has led us to review prime rents upwards by €0.25 psf to €14.25 psf while secondary rents remained stable at €11.50 psf. 

Il settore retail si posiziona al primo posto nelle strategie degli investitori secondo quanto riportato nel report di Savills “Italy Retail Spotlight”. In termini di volumi di investimento, il retail si è confermato infatti protagonista con circa €700 milioni investiti, un dato superiore del 23% rispetto all’anno precedente.