Airbus Sells its HQ in Madrid to Hines for €29 Million

The fund Hines Global Income Trust (Hines Global) has completed its first operation in the office sector with the purchase of Airbus’s headquarters in Madrid where the aerospace giant will continue as the tenant.

Transactions seem to be returning to the office sector in Spain on the first Monday in more than three months that the country is operating at full capacity after the State of Emergency came to an end. The fund Hines Global Income Trust, Inc. (Hines Global) owned by Hines has acquired the industrial and office complex in Madrid through a sale and leaseback transaction with the aerospace company.

The transaction, which represents Hines’s first foray into the Spanish office market, amounted to 29.2 million euros. The complex, which comprises six office and industrial buildings, has been fully leased to Airbus for six years.

Read the full article in Spanish.

Unifersa Buys a 42,000m2 Industrial Plot in A Coruña

4 January 2019 – Eje Prime

Unifersa is expanding its warehouse. The Galician company, which is dedicated to the wholesale of industrial supplies and professional hardware, has acquired a plot of land measuring 42,000 m2 in A Coruña to expand its facilities.

The company will initially invest €10 million in the new site located in A Larancha, which will replace the headquarters that the firm has in Fene and which occupies 10,000 m2. The physical growth of the firm thus accompanies the development of the business, whose turnover exceeds €20 million.

If the forecasts from the consulting firm Savills Aguirre Newman are confirmed, the logistics market will have closed 2018 with an investment of €1.2 billion, 42% higher than the result for the previous year. That figure is accompanied by new demands from companies in the sector, which are looking for centres with a 100% logistics profile, as well as trying to find spaces with potential for return.

Nevertheless, the progression of the Spanish logistics sector has its response in e-commerce, which has boosted the sector to make 2018 one of its best years. E-commerce is the main factor responsible for the good performance of the business, which firms such as Airbus, Mercadona and Amazon have joined with new centres.

Original story: Eje Prime

Translation: Carmel Drake

Mountpark to Invest €30M in a Macro-Warehouse for XPO in Toledo

23 October 2018 – Eje Prime

A new macro-operation is on the cards for Plataforma Central Iberum. The logistics developer Mountpark is going to invest €30 million in the development of this enclave to the south of Madrid in an asset measuring 44,000 m2 for XPO Logistics. In turn, the logistics operator has already agreed to rent the space to a large fashion chain, according to explanations provided to Eje Prime by the Director General of Mountpark for Spain and Portugal, John Derweduwe.

This warehouse is being promoted under the turnkey model and it is scheduled for completion and opening in June 2019. The latest-generation asset is going to be located 35 km from Madrid, in the municipality of Illescas, in Toledo. The real estate consultancy Estrada&Partners has been responsible for advising this operation.

The future tenant of the warehouse of Mountpark and XPO, is going to be the Swedish fashion retailer H&M, which will use the platform for its e-commerce logistics. The boom in e-commerce is also the reason why other overseas giants have also set up shop in Plataforma Central Iberum, which has converted the park and its surrounding area into the new prime axis of the real estate logistics market in the centre of the country.

Mountpark is entering a platform where Amazon, Airbus, Michelin and Toyota, amongst others, are already present. Located on a plot spanning more than 3.5 million m2, Plataforma Central Iberum is also the largest eco-industrial park in Spain.

The platform that it is building for XPO will not be the only one that Mountpark is promoting in this park. The company owns a second plot measuring 89,000 m2 in Illescas for which it is currently finalising a rental agreement with a high-profile domestic retailer.

“This project is just the start of an ambitious future for Mountpark in Spain” highlighted Derweduwe. The director, formerly the Vice-President and Administrator of Prologis Spain between 2002 and 2006, is “heavily committed to the south of Madrid”, where he plans to constitute a “significant” land bank to be able to respond to “the new logistics needs of the 21st century”, added the executive.

Specialising in the construction of so-called XXL assets (those spanning a surface area of more than 40,000 m2), Mountpark already owns a 99,000 m2 plot in Alcalá de Henares and is working on another land bank spanning several million square metres.

Changing trend in Madrid

Regarding the arrival of giants such as Amazon to Illescas, Derweduwe points to the “saturation” of the Corredor de Henares thoroughfare, which is leading to a “change of trend” in which the province of Toledo is gaining a lot of notoriety due to its proximity to Madrid and because “being located in Castilla-La Mancha also has benefits for tenants”, said the executive.

As well as the central area, Mountpark is also looking “seriously” at Cataluña and Valencia (…).

The parent company of the Iberian subsidiary led by Derweduwe is Mountpark Logistics, a joint venture between Usaa Realco-Europe Holdcom, the Dutch subsidiary of Usaa Real Estate, and Mountpark Finco Sarl (Mountpark). The joint venture promotes large logistics buildings all over Europe, but with the focus primarily on the United Kingdom, Western Europe and Central Europe. Mountpark has a portfolio comprising 16 assets with the potential to offer logistics facilities spanning more than 1.85 million m2 in the continental market.

Original story: Eje Prime (by Jabier Izquierdo)

Translation: Carmel Drake

P3, Airbus’s New Landlord, is Preparing its Reign in Spain’s Logistics Market

10 October 2018

The socimi, which acquired GreenOak’s logistics portfolio in the country in 2017, plans to strengthen its presence in the short term in cities such as Barcelona, ​​Madrid, Zaragoza and Valencia.

P3 Logistic Parks is looking to take first place in Spain’s logistics market. The group, owned by the sovereign fund Singapore GIC Private Limited, is continuing to follow its previously disclosed growth strategy in the country and has set as one of its short-term objectives the goal to increase its presence in the Mediterranean corridor and the Central corridor, as the company explained to EjePrime.

The socimi, which started trading on the Alternative Stock Market (MAB) last December, wants to position itself as “real estate developer and real estate investor in Spain,” a market in which it has been present since 2015. To do this, the company considers it essential to acquire new logistics assets in Barcelona, ​​Málaga, Valencia, Madrid and Zaragoza.

One of P3 Logistic Parks’s most recent operations in the country was carried out near the Spanish capital, in Toledo. The company finalised an agreement yesterday with Airbus to develop a new 31,000-square-meter logistics platform in the municipality of Illescas, as EjePrime reported. The socimi plans to begin work on construction by the end of the year so that the aerospace company can move into its new facilities in the third quarter of 2019.

P3’s largest operation in Spain, however, occurred in April 2017, when it took over GreenOak’s logistics portfolio. The company acquired a set of eleven industrial warehouses spread out over different localities from the North American fund. Through the operation, the socimi added more than 400,000 square meters to its portfolio, which currently consists of a total of eighteen logistics assets.

” P3’s strategy in Spain is based on a long-term vision, since we have numerous assets in the logistics field, in consolidated locations and areas of great interest,” the company stated. The group is following the same trajectory in the rest of the European countries in which it is present: the Czech Republic, France, Germany, Italy, the Netherlands, Poland, Romania and Slovakia.

The company has more than 185 warehouses and logistics parks (totalling 4.2 million square meters), a land bank of more than 1.8 million square meters and a portfolio of 400 customers in Europe. Among the tenants of P3, apart from Airbus, there are companies such as Lamborghini, Ducati, British American Tobacco, Antalis and BSH Electrodomésticos.

Currently, Spain accounts for about 12% of the company’s total business. One of the challenges pursued by the company is to improve its presence “in the Central corridor, especially in key areas such as Madrid and Zaragoza, where there is less supply of available space, but where demand continues to be high.”

P3 Logistic Parks belongs to the P3 Group, the European parent company that controls the acquisition, lease and sale of logistics properties throughout the continent. The Spanish company, with headquarters in Madrid, was created on May 5, 2017, under the name of Chadwicks with capital from TMF Participation Corporation and TMF Participations Holdings. Today, the sovereign fund of Singapore GIC Private Limited holds the majority stake of the company.

Original Story: EjePrime – Berta Seijo

Translation: Richard Turner

Airbus to Arrive in Toledo Opening 31,000-m2 Logistics Centre in 2019

9 October 2018

The European aerospace behemoth signed an agreement with P3 Logistic Parks for the development of a new logistics space in Illescas. Construction will start at the end of 2018.

Airbus is flying into Toledo. The global aerospace behemoth will move into a new logistics centre that P3 Logistic Parks will develop in Illescas (Toledo). Construction on the project, which will have 31,280 square meters of surface area, will begin at the end of this year. The expectation is that Airbus will be able to move into its new facilities by the third quarter of 2019, P3 explained to EjePrime.

Airbus’s future logistics centre will be located in Toledo’s Plataforma Central Iberium, a 350-hectare logistics hub. Designed with the sustainable construction certificates rated BREEAM Very Good, the future centre will have sprinkler systems with their own water supply and a dedicated connection to the nearest train station.

The logistics platform that P3 will develop for Airbus will be its second in Illescas, a very attractive municipality for the logistics sector considering its location near Madrid. The socimi already has about 200,000 square meters of surface area already built or under development.

The new facility will increase the size of P3 Spain Logistic Parks’s portfolio. The socimi debuted on the Alternative Stock Market (MAB) in December of last year. The company, which has operations throughout Europe, is controlled by Singapore’s sovereign wealth fund, GIC Private Limited. In Spain, the company has 18 assets with more than 400,000 square meters of industrial area. A large part of the portfolio was acquired in April 2017, when the socimi purchased GreenOak’s Spanish logistics centres for 243 million euros.

Original Story: EjePrime – Berta Seijo

Translation: Richard Turner

Airbus Unveils Plans For Its New Offices In Getafe

10 November 2016 – Expansión

The Airbus group has decided to unify its offices in Madrid into one large site. (…).

The new facilities will be located on land that Airbus owns alongside its factory in Getafe. Lamela, the architecture firm that won the tender to design the site, is drawing up plans for the complex, which will have a total surface area of 54,000 m2 and which will house 1,600 staff.

According to sources at the architecture studio, the new campus will include three new spaces: two modules for the central offices, buildings for IM (Information Management) and CPD (Data Processing Centre), a canteen, with capacity for 3,000 people, and an identification centre.

According to the proposed timetable, the plans will be ready during the first quarter of 2017 and construction work will begin soon after that, with the likely completion date at the end of 2018. (…).

Original story: Expansión (by R. Arroyo and R. Ruiz)

Translation: Carmel Drake