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industrial Market News: Spanish Real Estate Intelligence

Prodea Investment acquired building in Athens

Prodea Investments has acquired a 5,462-square-metre office building in Athens, implementing its strategy to acquire commercial real estate with significant value add prospects. Prodea Management has not yet decided on the use of the property as its proximity to the Acropolis, the Athens centre and a subway station makes it ideal for both office and hospitality use after renovations. The building is situated on Syggrou 44 ave., and the acquisition price for it amounted to €5.9 million.

Prodea also continues its investment in logistics centres by acquiring the 100% of ILDΙM. ILDIM owns the logistics centre in Aspropyrgos area which was constructed in September 2019 and meets the most up-to-date logistics specifications. The total surface of the property is 5,069 sq.m. and is already leased to a trusted tenant. The acquisition price of the property amounted to €2.79 million. The acquisition of ILDIM’s shares was based on the Company's equity, taking into account the aforementioned consideration for the property.

Original Story: Capital

Adaptation/Translation: Kiki Athanasiadis

Amazon is looking to expand in Greece

Reportedly Amazon has already approached the Greek government to acquire land in the greater area of Elefsina to set up a sorting and distribution center that will serve Southeast Europe and the Middle East.

The reason Greece has been selected is reportedly related to the location of the country that allows it access to the whole region, while also being one of the main countries and entry point for Chinese products.

There has not been much information released about the project, but it has been a word of mouth in the Greek market. An investment of this dynamic changes the Greek investment landscape for the best.

Trastor REIC acquired logistics centre in Magoula, Attica

Trastor REIC announced the purchase of a logistics centre in Magoula, Attica.

According to the press release "on 18.09.2019, participating in the procedures of a legal entity special administration asset sale process, Trastor was declared as the preferred bidder for the acquisition of a logistics centre located in the area of Magoula in Aspropyrgos, Attikis. The acquisition price of this property is€ 1,100,00. The Company will further inform the investing public when all required formalities have been concluded".