Cebu cold storage supply tightening, warehouse leases stable — PRIME

THE supply of cold storage in Cebu is tightening, with a vacancy rate of only 2% of the estimated 105,600 square meters (sq.m.) of leasable pallet positions, PRIME Philippines said in a special market report.

The shrinking vacancies at temperature-controlled logistics providers was attributed to rising port activity and changing consumer supply chain preferences. Major providers like Fast Logistics Group, BigBlue Logistics Group, and Jentec Storage, Inc. are operating at near capacity, PRIME Philippines said.

Industrial warehouse lease rates in Cebu remained stable at an average of P247 per sq.m. in the first quarter.

PRIME Philippines said the province’s total warehouse supply grew to 5 million sq.m. from 4.4 million sq.m. in early 2024. Lease rates were little changed from the fourth quarter of 2025.

Demand for industrial space in the province continues to be driven by the manufacturing segment, which accounted for 28% of the total. Transportation and storage accounted for 27%, and wholesale and retail trade 25%.

The report noted a clear trend of industrial decentralization within the province. Industrial activity is expanding beyond the traditional core into the Metro Cebu Fringe and southern “hotspots” such as San Fernando and Carcar.

Northern hubs, including Danao City and Balamban, are also emerging as key areas for new industrial developments. — Juliana Chloe A. Gonzales