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industrial Market News: Spanish Real Estate Intelligence

Volkswagen Group Services Leases Logistics Complex South of Lisbon
5 March 2020 Volkswagen Group Services has leased a 13,000 square meter warehouse in Palmela, in the Quinta da Marquesa industrial complex, south of Lisbon. The subsidiary of the Volkswagen Group intends to refurbish and upgrade the property and expects to start operations within six months. B. Prime marketed the property in conjunction with Abacus. The real estate investment Fund AF Portfolio Imobiliário currently owns the asset, which consists of a 13,000-m2 warehouse, including 1000 m2 of offices, with a ceiling height of approximately 8 meters, tilting unloading docks, leveling ramps and a wide front patio. Original Story: Idealista Photo: B. Prime Translation/Summary: Richard D. Turner
 
ALDI to Build a €50-Million Logistics Platform in Moita
11 February 2020 The Moita City Council will sign a contract with ALDI this week, whereby the retail giant plans to build a €50-millio logistics platform. The firm intends to build the platform at Fonte da Prata, in Alhos Vedros, creating approximately 300 new direct jobs. ALDI also agreed to repave a section of the former 11-1 National Road. Moita is a municipality in Setúbal, just to the south of Lisbon. Original Story: Diário Imobiliário Translation/Summary: Richard D. Turner
 
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