Tag: Costco

Palm Logistics Develops a 115,000m2 Logistics Hub in Getafe (Madrid)

27 March 2019 – Press Release

Palm Logistics, the dedicated affiliate of Palm Capital, the pan-European real estate private equity specialist, is set to deliver a large logistics hub in Madrid, to meet the pent-up demand for modern logistics in the capital and respond to the rapid growth of e-commerce and supply chain rationalisation across Europe.

The site, covering more than 115,000 m2 across 10 grade-A logistics buildings, will provide the best ‘last mile delivery’ option to Madrid while being easily accessible to the rest of Spain and across Europe.

The first phase, due to complete this summer, comprises a 33,000m2 leasable area across two buildings with the ability to offer modules from 7,000m2 to 20,000m2.  The buildings will be certified LEED Silver, having been built to the highest quality standard with key sustainability considerations in mind.

Gavilanes is located close to main roads, the airport and the Abroñigal intermodal station with its large roads and roundabouts adapted to the traffic of heavy vehicles.  The site is already home to several first-class international companies including Amazon, Decathlon, Costco, Mercadona, and ID Logistics.

Original story: Press Release

Edited by: 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

Segro Acquires 2 Logistics Plots in Madrid & Barcelona

16 January 2018 – Press release

Segro, the British investment fund specialising in the logistics sector, is increasing its presence in Spain with two new acquisitions in Getafe (Madrid) and Sant Esteve de Sesrovires (Barcelona). Both assets were acquired in December 2017.

On the one hand, Segro has announced the acquisition of a plot of land measuring 8 hectares in Getafe for the construction of a logistics warehouse measuring 46,000m2. That land is strategically located in the Puerta Mayor-Los Gavilanes Business and Logistics Park, a relatively new location 14km to the south of Madrid, alongside the A4 Madrid-Andalucía highway and with direct access to the M-50.

That logistically strategic area is home to several large multinational companies, such as Decathlon, CostCo and Amazon, but suffers from a relative shortage of buildings measuring more than 40,000 m2 in the market in Madrid, despite the high demand for large units this year. Work to build the logistics warehouse will begin during the first half of the year in response to this market need.

On the other hand, Segro has acquired a new asset in Sant Esteve Sesrovires. That plot comprises 8 hectares and is located 35km away from Barcelona’s city centre. Sant Esteve Sesrovires is located between the A2 and A7 highways, which run from Barcelona to Madrid and represents a strategic communication hub. Barcelona is an area with a shortage of modern, high-quality warehouses, and for this reason, Segro will proceed to construct a 51,000 m2 property (…).

Whilst the construction and financing of the project will be completed over 2 phases during 2018/2019, work on the first phase spanning 29,000 m2 will start at the beginning of Q1 2018. This project coincides with the construction of a 20,000 m2 warehouse that the firm is working on in Martorelles, which will be completed in the summer and available for rent thereafter (…).

With these two new acquisitions, Segro, in its commitment to expand its presence in Spain, is positioning itself as one of the important investors in the Spanish logistics market with a portfolio spanning 255,000 m2. Segro is continuing to focus on high-quality buildings and prioritise strategic locations to create a privileged portfolio of warehouses for distribution and urban logistics, creating high added-value spaces for large companies and SMEs alike.

About Segro

Segro is a British Listed Real Estate Investment Company (Socimi) and European market leader in the management, promotion and construction of logistics and industrial assets. Segro owns and manages a portfolio of properties spanning 6.3 million m2, with a market value of GBP 8 billion, providing services to various clients in the logistics and industrial sector. Its parks are located in the main distribution and transport hubs of the countries in which it has a presence. It owns some of the best logistics parks and transport centres in Europe.

Segro enjoyed a record year in 2016 and according to its provisional results for 2017, the company recorded a 3.9% increase in its net rental income. Moreover, it signed rental contracts worth GBP 27.5 million (around €30.8 million), up by 28% compared to the same period in 2016 (…).

Original story: Press release

Translation: Carmel Drake

Tycoon Costco Gets the Green Light For a Store in Getafe (Madrid), 500 Jobs Guaranteed

8/01/2014 – Expansion

The City Council of Getafe has given the authorisation for construction of a shop and a central premises to giant Costco, the second-largest distribution group of the United States and ranking the seventh in the world. This store would be the next to open in Spain, as the warehouse club already has one in Seville.

Costco is going to settle down in the Los Gavilanes industrial area, Getafe, and its plan foresees hiring 420 people for the warehouse store, and one hundred more for its headquarters.

The distribution group will occupy a space of  around 15.891 square meters, of which almost 14.000 sq m will be intended for the retail space, whereas the remaining 2.000 sq m for the Spanish headquarters. In addition, Costco will open a workshop and a café.

Trading on the Nasdaq stock market, Costco employs 161.300 workers worldwide, it has 622 establishments and earns €76.8 billion annually.

 

Original story: Expansión

Translation: AURA REE