Logistics and data centres in Greece: demand is ahead of supply

According to Danos, investor appetite for Greek logistics remains strong, yet the scarcity of suitable stock and the high proportion of owner-occupied assets continue to limit transaction volumes.

In practice, many warehouses in Greece were built for a single occupier's operations. Specifications such as clear height, loading, yard depth and access determine whether a building can be let to a third party — and therefore whether an investor will price it as an investment asset.

Data centres have become another key sector for foreign investors. Groups including PIMCO, DAMAC, Digital Realty, DATA4 and Microsoft have secured, or are close to securing, major projects, particularly in the Greater Athens area.

The same analysis notes that water and energy availability, combined with rising energy costs, may significantly affect the operational viability of such developments.

For owner-occupiers, a sale-and-leaseback can turn an operational building into an investment product — if the lease, the technical condition and the permitting status are documented to investor standard.

For landowners and developers, early technical due diligence on power capacity, water, access and planning is what separates a credible logistics or data-centre scheme from an optimistic one. This is where feasibility and development management add value before capital is committed.