industrial Market News: Spanish Real Estate Intelligence

The Dia distribution group "will communicate in due course the final price of the transaction, as well as the destination of the funds received."

The asset acquired by Log In, comprising two warehouses and an office building, is located on the Arazuri Industrial Estate in Navarra.

"The correction in asset valuations was especially pronounced during the second half of the year," according to Fernando Fuente, from CBRE.

The real estate logistics company Prologis manages 1.5 million square metres and 83 buildings in Spain.

Following the purchase of this warehouse, which was owned by Goodman until now and which is leased to Amazon, Corum now has more than 6.5 billion euros in capital under management.

The start-up of activity again on the land will allow the Nissan workforce to be relocated.

The high absorption rate and lack of new supply have reduced the vacancy rate in Madrid to 6.3%, according to the consultancy firm Savills.

In 2022, the hotel segment in Spain offered returns of more than 4.75% and the logistics segment returns of more than 4.25%.

Another 38,000 m2 is expected to be leased in Zaragoza during H1 2023, with spaces ranging from 5,000 m2 to 18,000 m2.

Heylen Warehouses has acquired its first plot of land in Spain to develop a fully sustainable platform spanning 15,000 m2.