20 February 2017 – Expansión
Prologis, the world leader in real estate assets, has decided to launch two logistics projects in Spain. “Our most recent project involved a 14,000 m2 distribution warehouse, which we built for TNT in the Puerta de Madrid industrial estate in San Fernando de Henares. That was completed in 2015. Prior to that, our next most recent development was initiated at the beginning of 2008”, explains Gustavo Cardozo, Senior Vice President at Prologis Iberia.
Now, Prologis has decided to launch a 23,000 m2 industrial complex in Valencia, which it initiated at the end of 2016, and it is also starting a new 21,000 m2 development in Madrid.
The latter is a logistics building in Prologis Park San Fernando de Henares, a 90,000 m2 industrial complex that Prologis started to develop a year and a half ago, with urbanisation and infrastructure works.
Prologis will invest €11 million in the new building in Madrid, including the cost of buying the land. “The logistics market in Madrid lacks modern and efficient warehouses in the metropolitan area and we think that demand for large spaces is going to grow over the next few months”.
Prologis Spain owns 38 logistics properties covering more than 800,000 m2.
Original story: Expansión (by Rocío Ruiz)
Translation: Carmel Drake