Tag: amazon

Patrizia to Sell Amazon’s Logistics Platform in Madrid

4 January 2020 – The German firm Patrizia has decided to sell two logistics assets in Madrid. The platforms include Amazon’s logistics centre in Getafe and a warehouse in Torrejón de Ardoz. Patrizia is looking to raise 150 million euros with the sale.

Amazon’s facility in Getafe is raising the most investor interest. The 58,000-m2 asset has a long-term lease with the e-commerce giant and is located near the M-50 ring-road. Patrizia acquired the property in 2017 and paid 40 million euros to build the platform.

La firma alemana Patrizia ha decidido vender dos activos logísticos en Madrid. Las plataformas incluyen el centro logístico de Amazon en Getafe y un almacén en Torrejón de Ardoz. Patrizia busca recaudar 150 millones de euros con la venta.

Las instalaciones de Amazon en Getafe están generando el mayor parte del interés de los inversores. El activo de 58,000 m2 tiene un contrato de arrendamiento a largo plazo con el gigante del comercio electrónico y está ubicado cerca de la carretera M-50. Patrizia adquirió la propiedad en 2017 y pagó 40 millones de euros para construir la plataforma.

Original Story: Idealista / El Economista

Translation/Summary: Richard D. Turner

AliExpress Intent on Acquiring Land to Build a Logistics Platform in Seville

5 December 2019 – AliExpress, the international subsidiary of the Chinese e-commerce giant Alibaba, is looking to enter the fray in Europe by acquiring land for a major logistics centre in Spain. Just a year ago, the firm partnered with El Corte Inglés to open its first brick-and-mortar store on the continent, in Madrid. Now AliExpress, whose second-largest overseas market is Spain, is looking to develop a new logistics centre in the metropolitan area of ​​Seville.

The firm is following in the footsteps of its principal competitor, the US behemoth Amazon. AliExpress is now looking to build a 120,000-m2 logistics platform in the Megapark Business Estate, where its rival has a 200,000-m2 facility.

AliExpress’s immediate needs include an approximately 60,000-m2 warehouse, with the possibility of further expansion. Megapark benefits from easy access to rail, road and maritime transport links.

Original Story: El Confidencial – Carlos Pizá de Silva

Photo: Reuters

Adaptation/Translation: Richard D. K. Turner

Amazon to Build its Seventh European Cloud Computing Centre in Aragon

18 November 2019 – Amazon is set to invest 2.5 billion euros to build its seventh European cloud technology services centre, this time in the Spanish region of Aragon. The American retail giant plans to construct three facilities, called availability zones, with more than 100,000 square meters of surface area, at the Huesca Logistics Platform, in Villanueva de Gállego and El Burgo de Ebro.

Negotiations between Amazon and the Aragon government began more than a year ago through a senior-level working group. The planning application is already at an advanced stage, and the facilities could be operational by 2020.

The sites will host Amazon’s cloud computing services. The availability zones are made up of one or more datacentres equipped with independent power, cooling, and networking. Therefore, the US firm will use the facilities to sell an array of computer services to third parties, including data storage and access to computing power to complete complex calculations.

Amazon Web Services (AWS) expects the project to generate up to 1,500 jobs within ten years, mostly for highly qualified professionals.

Original Story: Heraldo – Chus García

Adaptation/Translation: Richard D. K. Turner

Investment in “Last Mile” Logistics Platforms Takes Off  

14 October 2019 – The boom in e-commerce is sparking a revolution in the logistics markets as industry players seek to increase the speed of deliveries. The ability to deliver goods quickly in cities such as Madrid and Barcelona is leading firms to acquire logistics platforms that are located close to city centres. Market watchers refer to the “last mile” – the final delivery of goods to the customer’s home. Thus, the industrial estates that surround Madrid and Barcelona are slowing being repurposed as logistics platforms. The most sought-after are less than 10 kilometres from the most central neighbourhoods.

In an example of the tendency, the Spanish real estate group Allegra recently finalised the sale of a logistics park in the Marconi industrial estate, to the south of Madrid in Villaverde. The logistics platform consists of two warehouses measuring 9,798 and 7,676 square meters, respectively. The US-fund Hines, one of the four most important real estate management companies in the world, acquired the asset for 22 million euros. It was Hines first investment in the logistics sector in Spain.

According to data from the real estate consultancy JLL, though the price of logistics assets in Barcelona are currently higher than in Madrid, €7/m2 on average, compared to €5.5 in the capital, Madrid is seen to have major potential. The allocation of such platforms soared from 185,000 square meters in the third quarter of 2018 to 290,000 m2 this year, an increase of 48%. JLL also estimates that developers are working on another half a million square meters of platforms in Madrid, compared to 182,000 square meters in Catalonia.

Original Story: ABC – Adrián Delgado

Adaptation/Translation: Richard D. K. Turner

Nuveen Buys Amazon’s Logistics Warehouse in Bilbao for c. €17M

18 September 2019 – Idealista

Nuveen Real Estate (formerly TH Real Estate) has purchased the logistics warehouse that Amazon occupies 10km from the centre of Bilbao for almost €17 million, according to sources close to the operation. Until now, the warehouse had been owned by Vusa, the real estate group led by the heirs of Valeriano Urruticoechea.

The asset has a surface area of 9,000 m2 in total, of which 8,000 m2 is dedicated to storage and almost 1,000 m2 to offices. Amazon has signed a 21-year contract to occupy the property, of which 11 years are mandatory (until 2030).

Amazon started operating from the logistics facility in June. It is a modern platform in terms of its design and construction, suitable for cross-docking and with parking for small vans to serve the last mile distribution market.

This is the third logistics asset that Nuveen has purchased for its European Logistics platform in Spain. It acquired the other two in Madrid and Valencia in 2017.

Nuveen, which is led by Marta Cladera de Codina in Spain, is not only active in the logistics market. It also holds stakes in several shopping centres on the Iberian Peninsula, specifically, Islazul and 50% of Xanadú, as well as in retail parks, including Meixuerio in Vigo.

Nuveen Real Estate is one of the largest investment managers in the world with USD 130,000 million in assets under management.

Original story: Idealista – Custodio Pareja

Translated by: Aura Ree

Amazon Selling off Logistics Centres throughout Europe

17 September 2019 – Amazon has begun a process whereby it is selling off its logistics assets in Europe in a series of sale & leaseback operations. Last month, the e-commerce giant sold three platforms in Barcelona, ​​London and Paris for about 400 million euros to the Korea Investment Corporation (KIC), Korea’s sovereign fund.

The firm sold the logistics centres at Avonmouth (Bristol, servicing London), Brétigny-sur-Orge (Paris) and El Prat (Barcelona), one of the most important in southern Europe. The operation would have closed last August.

At the same time, Goodman Real Estate is in the process of selling the logistics platform it is in the process of building for Amazon nearby Seville. Goodman, which is negotiating with M&G, expects to raise approximately to €200 million with the sale.

Original Story: El Español

Adaptation/Translation: Richard D. K. Turner

M&G Negotiating with Goodman Real Estate to Acquire Future Amazon Logistics Centre in Seville

17 September 2019 –

The British fund manager M&G is negotiating to acquire the future Dos Hermanos logistics centre in Seville. The nearly 200,000-m2 centre is under development by Goodman Real Estate and already for Amazon, with which it has signed a 20-year lease.

Goodman commissioned the Eastdil investment bank to organise and conduct the formal sales process, one which seeks a sales price of €200 million.

Original Story: El Confidencial – Ruth Ugalde

Adaptation/Translation: Richard D. K. Turner

Goodman to Sell Amazon Logistics Centre Under Development in Seville

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

 

 

Pontegadea Leases Seven Floors in Torre Foster to Amazon

20 July 2019 – Richard D. K. Turner

After buying part of the headquarters of Amazon in the United States, Pontegadea has sealed another deal with the American e-commerce giant, leasing seven floors of offices in the Torre Foster to the firm.

Pontegadea, the investment vehicle of Amancio Ortega, the founder of Inditex, leased the space, totalling 11,550 square meters for between 23 and 28 euros per square meter.

Mr Ortega acquired Torre Foster almost three years ago when the tower had been fully leased to the oil company Cepsa.

Original Story: El Confidencial – Ruth Ugalde

Photo: Pontegadea.

Allegra Looks to Sell Logistics Platform Nearby Amazon and Madrid

29 June 2019

The real estate group, Allegra Holding, is looking to take advantage of the substantially increased interest in e-commerce and its effect on the logistics industry to sell the Postremo project. Postremo comprises two warehouses in Villaverde, on the outskirts of Madrid, and a plot of land located in front of a facility owned by Amazon in San Fernando de Henares, just 30 kilometres from central Madrid.

Allegra mandated Knight Frank to lead the sale, which could raise 30 million euros, providing a return of approximately 5% to any potential buyer. The assets include two warehouses, with a total surface area of roughly 17,000 m2, which the logistics firm On Time is currently leasing. The 16,430-m2 plot of land has an approved project to build a 10,265-square-meter warehouse

Original Story: El Confidencial – Ruth Ugalde