17 September 2019 – Goodman Real Estate announced that it would sell the huge logistics centre it has under development for Amazon in Seville. The sale of what would be the largest logistics centre in Spain is expected to bring in approximately 200 million euros, providing a return below 4.5%.
Goodman, who has regularly partnered with Amazon, is taking advantage of heightened investor appetite for such assets in Spain due to consumers buying ever more online.
The cost of the development of the logistics centre is expected to reach 100 million euros or more. Goodman commissioned Dragados, the construction arm of the ACS group, to build the centre. The future complex will have a surface area of almost 200,000 square meters, spread over four floors, and should be ready next year.
Original Story: El Confidencial – Ruth Ugalde
Adaptation/Translation: Richard D. K. Turner