industrial Market News: Spanish Real Estate Intelligence

Mylan Sells Building in Alvalade to Parinama Family Office
17 December 2019 – The pharmaceutical firm Mylan has sold a building in the industrial area of Lisbon's Alvalade district to the Portuguese family-office Parinama. The property is located at Rua do Centro Cultural, 13. CBRE brokered the sale process but did not disclose details of the transaction. According to the real estate consultancy, Alvalade, which is five kilometres inland from the historic area of Lisbon, is a highly sought-after area by Portuguese families. The neighbourhood as a markedly industrial character and the asset currently includes a warehouse with upper-floor offices. The property has a total above-ground area of 1,970 square meters, along with 740 m2 below ground. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
Belgium’s VGP to Invest €20 Million in New Logistics Facility
28 November 2019 – VGP, a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate, will build a new logistics facility in Santa Maria da Feira, in its first investment in Portugal. The new facility will have more than 30,000 square meters of covered surface area and is expected to generate about 200 jobs. The firm expects to invest approximately 20 million euros in the development, which will be located about a 30-minute drive from Porto. Original Story: Jornal de Negócios - Rui Neves Adaptation/Translation: Richard D. K. Turner
Aquila Capital to Invest €88 Million in Green Logistics Project North in Azambuja
26 August 2019 Aquila Capital, a German fund which invests in sustainability-related assets such as renewable energy, social housing, green logistics, timber and agriculture, announced that it would develop a 115,000-m2 “green” logistics project in Azambuja - 35 km north of Lisbon. The German fund will invest approximately 88 million euros and start construction in early 2020. Aquila stated that the logistics units will be sustainable and have photovoltaic panels installed on every roof. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner