The supply of cold storage in Cebu is tightening, with a vacancy rate of only 2% of the estimated 105,600 square meters of leasable pallet positions.
The shrinking vacancies at temperature-controlled logistics providers were 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, with industrial warehouse lease rates in Cebu remaining stable at an average of P247 per square meter in the first quarter.
The province's total warehouse supply grew to 5 million square meters from 4.4 million square meters in early 2024, with lease rates 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, followed by transportation and storage at 27% and wholesale and retail trade at 25%.
The report noted a clear trend of industrial decentralization within the province, with industrial activity 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.
