25 July 2018 – Eje Prime
VGP is going to build a new logistics park in the south of Madrid. The investment group is going to spend €25 million on the development of a macro-project on a plot of land measuring 80,000 m2 in Fuenlabrada. The buildability of the plot is 50,000 m2, according to reports by the company.
The logistics company has acquired a plot on the Callfersa Industrial Estate to expand the supply in the second ring of Madrid. In Fuenlabrada, there is currently 81,000 m2 of industrial surface area, which is fully occupied. Therefore, VGP’s operation, which has been advised by JLL, will double the stock of logistics land in the town.
VGP’s investment “will provide a solution to the lack of supply in the second ring of Madrid”, explains Pere Morcillo, Director of the Industrial and Logistics Area at JLL, who warns that companies “were finding hardly any available space in the area, especially if you take into account that VGP’s project is the only development that is planned in the area”.
During 2017, 800,253 m2 of logistics space was leased in Madrid; and this year, 850,000 m2 of logistics space is expected to be leased, according to data from CBRE. That firm highlights the areas around the A-2, A-1, A-4 and A-42 motorways as those with the most space to let.
Original story: Eje Prime
Translation: Carmel Drake