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industrial Market News: Spanish Real Estate Intelligence

VGP Acquires a 15,000-m2 Plot of Land in Cheste
19 November 2019 - The logistics developer VGP has acquired a more than 15,000-m2 plot of land from the Generalitat Valenciana’s Circuito del Motor y Promoción Deportiva (CMPD). The state-owned firm put the asset up for sale in August at an initial price of 2.7 million euros. VGP was the only bidder. The land is located near the A3 Valencia-Madrid highway and is a part of the Cheste Circuit Business Park sub-division project. The public company currently has no plans to sell its second plot of land in the area, located near to the Ricardo Tormo Circuit. The company has been the only one to present an offer. Zoned as urban land for commercial or industrial use, the plot of land has an area of ​​15,360.66 square meters and a buildable area of ​​9,984.43 square meters. Original Story: Valencia Plaza - Begoña Torres Adaptation/Translation: Richard D. K. Turner
 
Amazon to Build its Seventh European Cloud Computing Centre in Aragon
18 November 2019 - Amazon is set to invest 2.5 billion euros to build its seventh European cloud technology services centre, this time in the Spanish region of Aragon. The American retail giant plans to construct three facilities, called availability zones, with more than 100,000 square meters of surface area, at the Huesca Logistics Platform, in Villanueva de Gállego and El Burgo de Ebro. Negotiations between Amazon and the Aragon government began more than a year ago through a senior-level working group. The planning application is already at an advanced stage, and the facilities could be operational by 2020. The sites will host Amazon’s cloud computing services. The availability zones are made up of one or more datacentres equipped with independent power, cooling, and networking. Therefore, the US firm will use the facilities to sell an array of computer services to third parties, including data storage and access to computing power to complete complex calculations. Amazon Web Services (AWS) expects the project to generate up to 1,500 jobs within ten years, mostly for highly qualified professionals. Original Story: Heraldo - Chus García Adaptation/Translation: Richard D. K. Turner
 
Investments in Zaragoza’s Logistics Sector Up 400%
14 November 2019 -In the first nine months of the year, firms in Aragon have invested 128 million euros, an increase of 400% compared to all of 2018. Investments in October and November have so far added another 45 million euros to the tally. The figures have established Zaragoza as a major logistics pole after Madrid and Barcelona, accounting for 10% of the investment in Spain as a whole. A study prepared by CBRE notes that the increase is largely tied to two major transactions in the Plaza logistics centre, involving a total of 145,000 square meters. The deals have typically offered returns of between 5% and 6%. Original Story: Heraldo - Chus García Adaptation/Translation: Richard D. K. Turner