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Press Release: The first phase of construction is underway at Palm Logistics Madrid-Gavilanes

Phase I of this world class project comprises 33,000 sqm of lettable area and will offer flexible logistics modules ranging from 7,000 sqm, as well as bespoke purpose-built solutions.

This will be the first Spanish logistics development by London and Madrid based real estate investment firm Palm Capital, via its specialized arm Palm Logistics

CBRE will be the sole letting agent of this high quality and highly efficient project.

Palm Logistics Madrid-Gavilanes is situated in a strategic location thanks to its proximity to Madrid, the city’s main motorways and the airport.

Madrid, 3 August 2018 – The first phase of construction of Palm Logistics Madrid-Gavilanes is underway at Gavilanes Industrial Estate (Getafe), in the south of Madrid. Phase I of the project will include 33,000 sqm of lettable area – of a total of 115,000 sqm  – set on a 50,000 sqm plot, and will offer flexible logistics modules from a minimum of 7,000 sqm, right through to purpose-built solutions for large occupiers and operators with specialist requirements. This world leading project comprises two logistics properties featuring very high standards of quality, energy efficiency and sustainability and CBRE will be the sole letting agent.

“Palm Logistics Madrid-Gavilanes is an integrated development that will lead the way in providing innovative, efficient and sustainable solutions for a rapidly evolving Spanish logistics sector. In fact, the project is expected to be awarded a LEED Silver Certification, and will achieve energy savings close to 40% compared to competing sites, through various proprietary solutions”, explained Adrián Romero-Amich who recently joined Palm Capital’s Madrid office to spearhead logistics developments in Iberia.

This project will also meet the very strong tenant demand for logistics, particularly in the important South Madrid catchment area. Palm Logistics Madrid-Gavilanes offers modern facilities with wide roads and roundabouts adapted for heavy goods vehicles.

One of the project’s key factors is its location, given that the Gavilanes Industrial Estate is situated in the local coverage area -just 18 km from Madrid- and also provides national coverage, thanks to its easy access to the main motorways, its proximity to the airport and the Abroñigal intermodal station. These features have already helped to attract first-rate companies to the industrial estate, such as Amazon, Decathlon and Makro.

Spain’s industrial and logistics market is currently seeing significant growth and is highly sought after by national and international investors. In the words of Alberto Larrazábal, CBRE’s National Director of Industrial and Logistics, “The e-business and e-commerce domain is reinventing this real estate asset class and Palm Logistics, thanks to its unique location, quality infrastructure and access, is firmly establishing itself with the arrival of first-rate companies”.

Palm Logistics has also recently acquired a 28,135 sqm logistics platform in the Copenhagen Airport. Currently occupied by DHL and Postnord, the platform serves air cargo and logistics operators, thanks to its exclusive direct runway access. The property also has the potential for a 12,351 sqm extension.

Reda Khatim, managing partner at Palm Capital stated that “these two recent transactions demonstrate our firm commitment to the European logistics space and will form a key part of our Pan-European growth strategy in this sector.  We are definitely planning to grow further in the Spanish logistics market and are currently analyzing a number of very exciting investment opportunities.”