Drago Leases 1,300m2 of Office Space in San Fernando to Mitsubishi

28 February 2019 – Eje Prime

More engineering in San Fernando. The Madrilenian business park has signed the rental of 1,300 m2 of offices to Mitsubishi Electric. The operation has been closed just a month after Indra leased another 2,500 m2 in the business park for its subsidiary Prointec (…).

Mitsubishi Electric has signed a five-year contract to lease offices in the complex’s Europa building. The space in San Fernando is also going to house a training centre and a showroom. Savills Aguirre Newman has brokered the operation and its Savills Arquitectura department is going to take responsibility for the plans and implementation work.

Mitsubishi also has offices in Barcelona, located in the town of Sant Cugat del Vallès and regional offices in Sevilla, Vitoria, Palma, Bilbao, Valencia and Málaga.

With these operations, the San Fernando Business Park has absorbed almost 4,000 m2 of leasable office surface area, which represents 10% of the total office surface area leased in the Corredor de Henares area during 2018.

The park, located in San Fernando de Henares, was constructed in 1992 and expanded in 2009. Currently, it comprises a gross leasable area of 86,000 m2 and is home to giants such as Coca Cola, Volvo, Baxter and Continental.

In total, the complex has sixty tenants distributed across thirteen buildings. The park is located at the southern end of the Corredor de Henares, the capital’s main logistics and industrial axis.

The San Fernando Business Park changed hands in June 2018 when Oaktree Credit sold it for €120 million three years after acquiring it. Since July 2018, the park has been managed by Drago.

Original story: Eje Prime (by Roger Arnau)

Translation: Carmel Drake

SEGRO to Build New 36,000 m2 Distribution Centre in Getafe (Madrid)

12 July 2018 – Press Release

SEGRO, the British investment fund specialising in the industrial and logistics real estate sector, is consolidating its position in Spain with the development of an additional constructed surface area of 36,000 m2 for distribution activities in Getafe, Madrid. Specifically, the 6-hectare plot is located in the “Puerta Mayor-Los Gavilanes” Business and Logistics Park, a strategic area where SEGRO already has another project under construction.

Through this operation, SEGRO is continuing to pursue its aim of becoming one of the main players in the logistics-real estate sector in Spain, where it has a total portfolio of 340,000 m2 comprising buildings and land for latest generation logistics and distribution activities. The firm is committed to high-quality facilities and locations.

SEGRO’s commitment to developing projects located in privileged areas is furthered with this new plot located just 14km to the south-east of Madrid, on the A-4 (Madrid-Andalucía) motorway and with direct access to the M-50. This enclave has a total surface area of 1,700,000 m2 and is one of the most modern external urbanisations around with 500,000 m2 of green space. It facilitates distribution in the capital, as well as to other parts of the country. Moreover, several multinational companies are located in the same area, including Amazon, Decathlon, CostCo and Coca Cola, reinforcing its position as a strategic enclave.

Flexibility is one of the defining characteristics of SEGRO, and for this reason, this new distribution centre may be adapted to the needs of its clients in order to ensure the fulfilment of their logistics needs. The project is going to be built in accordance with the latest environmental standards and with the aim of obtaining the BREEAM “Very Good” certificate, in line with SEGRO’s strategy to build modern, high-quality and flexible buildings.

Meanwhile, the firm’s first platform, measuring 47,000 m2, located in the same business park in Getafe, is in the final phase of construction and is expected to be completed by the end of 2018 (…).

SEGRO is now one of the largest logistics and distribution real estate firms in Spain and around Europe. It works on new build projects, as well as on the reconversion of existing industrial facilities.

Original story: Press Release

Translation: Carmel Drake

Corp Will Build 500 Homes On Site Of Former Coca-Cola Plant

21 April 2017 – Expansión

The real estate developer may begin construction within a year, once it has unblocked all of the permits that it requires from the Town Hall of Barcelona.

The property developer Corp, one of the most active in the Catalan housing market, will build 500 apartments on the site of Coca-Cola’s former bottling plant in Barcelona, in the district of Sant Martí. The company has paid Cobega, a company owned by the Daurella family, around €50 million for the plot. The operation highlights the reactivation of the sector in the Catalan capital.

Original story: Expansión (by G. Trindade)

Translation: Carmel Drake

Therus Will Invest €110M To Build New Office Complex In Madrid

22 September 2016 – Mis Oficinas

The building will be constructed on the last plot of land, measuring 21,000 sqm, that was available in this area in October 2015, when it was purchased from Unide. There is now no buildable land left in the area.

Construction at the site is due to begin in October. The project involves the design of a 33,123 sqm complex of offices and 800 parking spaces in the Vía Poblados area of Madrid. The real estate complex, which covers 56,000 sqm, of which 23,000 sqm will be underground, will comprise two office buildings, in a modern architectural style, linked by a covered pedestrian walkway. Each property will have its own entrance hall with lifts and access to the two underground car parks, which will allow the buildings to be divided perfectly as two independent properties or to be used together by a single tenant.

Building I will measure 13,000 sqm and be spread over six floors. It will have an open space of between 2,500 sqm and 3,200 sqm and as such will comply with one of the main demands of companies seeking new locations at the moment. Meanwhile, Building II, measuring 21,000 sqm, will be spread over seven floors. In total, both properties will have capacity for 3,00 employees. “It is an exceptional project due to its design and location, given that it has dual visibility over both the M-11 (airport) and the M-40 – the main ring road – and it is right next to the metro”, said Olivier Crambade, the CEO of Therus Invest.

The Campo de las Naciones area is home to more than 500,000 sqm of office space. The headquarters of many major multinational companies are located there, including Coca-Cola, Ericsson, Endesa and Iberdrola. (…). The search for a tenant for the new offices has already started.

In parallel, the firm is looking for an investor for the complex, where construction work is expected to be completed in September 2018. “The idea is to sell the property to an end investor and we are already in advanced negotiations; we expect to close the operation before the end of the year” (…).

“The ground floor is the key to this project, given that it is an open space that promotes the flow and use of its occupants. It is surrounded by gardens and restaurants, and there won’t be a single car in sight. The car park is in the basement. (…)”, said Crambade.

Crambade is proud of his new project. “At the moment, there are no new offices on the market in Madrid, and so a high quality project of this size in such a good location represents a very good opportunity for investors. There are not many products that can give you a return of 6% or 6.5%.

Original story: Mis Oficinas

Translation: Carmel Drake