industrial Market News: Spanish Real Estate Intelligence

The supermarket chain will invest around 75 million euros in this project, whose launch is scheduled for the end of 2021.

The overall average profitability stands at 6.1%, just 10 basis points above that of offices, and the figure represents a record-breaking 20% of the total investment in real estate.

The German fund, which owns Amazon's new logistics centre that will open in Alcalá de Henares this autumn, has put the asset up for sale and expects to receive more than 100 million euros for it.

The companies, through the joint venture they created in 2017, will put up for sale a portfolio of assets with a combined gross leasable area of more than 800,000 square metres.

The British Socimi has expanded its land portfolio in Spain with the purchase of eight logistics plots located in Barcelona and Madrid, with a combined buildable surface area of more than 240,000 square metres.

The US manager, which entered the Spanish market in March, has acquired a 37,160-square-metre warehouse near Illescas (Toledo), which is leased to Mediapost.

Between April and June, 165,000 m2 of logistics space was leased in Madrid, up by 88% year-on-year, and 90,000 m2 was leased in Barcelona, down by 25%.

In the months between April and June 2020, amid the pandemic lockdown, buyers completed purchases of logistics assets worth a total of 140 million euros. Buyers include funds such as Blackstone, Segro, Hines, Goodman and Nuveen.

Goodman will begin work on three buildings on the 108,457 -square-metre site of the former Iveco-Pegaso factory during the first quarter of 2021.

The US fund has been expanding its investments in the real estate sector and anticipating new market niches, such as debt portfolios, and the logistics and residential rental segments.