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industrial Market News: Spanish Real Estate Intelligence

Merlin Properties to Invest €150MM in its North Lisbon Logistics Platform
9 July 2019 – Richard D. K. Turner Merlin Properties is to invest €150 million in the North Lisbon Logistics Platform in Castanheira do Ribatejo. The firm acquired the asset from SAB in 2016. Merlin plans to build several state-of-the-art warehouses on the site, with construction forecast to conclude in 2023. The first warehouse, however, is expected to begin operations in 2020. The Spanish socimi began its investments in Portugal in 2015. Since then has acquired a range of assets, including in the office, shopping centre and logistics sectors. Original Story: Hipersuper - Filipe Pacheco
 
Mercadona’s Logistics Platform in Northern Portugal Is Ready for Business
3 June 2019Richard D. K. Turner According to an article in Publituris, Mercadona has completed construction on its logistics platform in Póvoa de Varzim. The platform will be used to supply the Spanish supermarket chain’s planned store openings in northern Portugal, the first of which will open on July 2 in Canidelo, Vila Nova de Gaia. Mercadona built the Póvoa de Varzim logistics platform on a 50,000-square-meter plot of land. The platform has two 12,000 square meter warehouses, which can store dry, refrigerated and frozen products. Original Story: Publituris - Filipe Pacheco
 
New Industrial & Logistics Developments Lacking in Lisbon
29 April 2019 – Hipersuper The real estate consultancy Savills Portugal believes that the supply of industrial and logistical real estate in the greater Lisbon area will continue to trail demand during 2019, limited to pre-existing warehouse facilities as new developments are nowhere to be seen. Rents are expected to rise in the face of highly limited supply, leading to the renegotiation of existing contracts. Turnover amounted to a total of 180,300 square meters, a decrease of 17% over the same period of 2017. Rents may rise slightly, especially in more central areas. Last year, the area between Alverca and Azambuja saw the region’s highest level of absorption with around 70,000 square meters, followed by Palmela and Setúbal (28,594 m2) and Loures and Vialonga (23,682 m2). Original Story: Hipersuper - Rita Gonçalves Translation/Summary: Richard D. K Turner