Prologis Buys Land In Valencia To Build 2 Logistics Warehouses
4 August 2016 – Mis Naves
Prologis Inc. has acquired land measuring 70,000 sqm in Valencia.
Prologis will build two leasable logistics buildings, measuring 23,000 sqm each, on the land and expects to begin construction during the third quarter of this year.
The land is located in the PLV de Ribarroja de Túria, a ideal location for the implementation of logistics activity. The two new properties will have cutting-edge facilities, including a minimum storage height of 11m, allowing them to increase storage volumes by 20% compared to a standard warehouse.
In addition, the warehouses will be equipped with LED lighting in the storerooms and offices, which will result in savings of around 40% in terms of electricity consumption, as well as the most efficient fire prevention system in the market.
“Our idea is to offer our clients a high quality product, based on design and efficiency, that highlights all of the features currently being offered in the logistics real estate market in Valencia”, said Cristian Oller, Director of Development and Projects at Prologis in Spain. “For us, this represents an interesting challenge to put into practice our model for the development of new buildings in a market as important for the logistics sector as Valencia”.
“We are very proud to return to Valencia and to start new developments in this market, which is becoming increasingly important in the logstics sector in Spain and Southern Europe”, said Gustavo Cardozo, Senior Vice-President at Prologis Iberia. “Our strategy for the next few years involves growing our business in Valencia and consolidating our position as a supplier of cutting-edge logistics warehouses in this market”.
The real estate consultancy Inmoking Real Estate was responsible for advising this operation. The marketing of the properties will be carried out jointly by the real estate agencies Inmoking Real Estate and BNP Paribas Real Estate.
Original story: Mis Naves
Translation: Carmel Drake