Tag: Goodman

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

 

 

Merlin Enters the Top 10 Ranking of the Largest Logistics Owners in Europe

19 June 2019 – Cinco Días

Merlin Properties has been a major player in the European office and shopping centre markets for several years. But now, the Socimi led by Ismael Clemente has entered the Top 10 ranking of the largest logistics owners on the Continent, with its portfolio of 1.6 million m2 under management, according to a report about the logistics market compiled by Deloitte.

The Top 10 ranking is led by the listed US firm Prologis (17 million m2); Logicor, the firm controlled by China Investment Corporation and Blackstone, (13.5 million m2); and the fund manager CBRE GI (7.7 million m2). They are followed by the logistics specialists Segro, P3 Logistics Parks and Goodman.

Merlin owns 1.1 million m2 of logistics space outright and holds a 48% stake in a company that owns another 469,000 m2 of logistics space in the port of Barcelona. It also has 1.254 million m2 of surface area under development.

Investment in logistics assets is currently breaking records across Europe and in Spain, in particular, boosted by attractive returns and the boom in e-commerce. With the rising demand, the availability of high-quality warehouses is decreasing, hence the need to build more. According to Deloitte, investment in warehouse purchases amounted to €1.5 billion last year, the second best year ever after 2017, when the figure reached €1.6 billion.

Merlin is planning to invest €484 million in its Best II and Best III logistics funds between now and 2022. Most will be targeted in Madrid and its surrounding areas (Guadalajara and Toledo) and Cataluña, but investment will also be made in Lisbon, Zaragoza, Sevilla and Vitoria.

Original story: Cinco Días (by Alfonso Simón Ruiz)

Translation/Summary: Carmel Drake

Goodman Seeks Virgin Land for New Warehouses

29 April  2019 – Eje Prime

Goodman, a global property expert in logistics and business space, has acquired 26,000 square meters of land in Castellbisbal (Barcelona) and will begin the construction of new warehouses during the second half of the year. The logistics giant is looking for non-finalist land near major cities for the development of new logistics platforms and currently has 285,000 square meters of land under development.

Finalist land in Spain have zoning limitations that prevent the installation of ramps or the development of warehouses that exceed a specific, both of which are essential characteristics for modern, multilevel logistics platforms. Therefore, the company is looking for virgin lands to develop.

Goodman is already working on its first multilevel platform in Spain in Molins de Rei (Barcelona). The warehouse, which Goodman is building for use by DSV, will consist of two connected buildings, each 10.5 meters high.

Last week, Goodman delivered 32,645 square meter centre in the Villadangos del Páramo industrial estate, in León, to Decathlon. The company will also conclude work on 75,000 square meter platform in Alcalá de Henares in June.

Original Story: Eje Prime – Marta Casado Pla

Translation/Summary: Richard D. Turner

GreenOak Sells a Warehouse in Valdemoro for €9.75M

18 March 2019 – Eje Prime

Gore Spain, the Socimi owned by the US fund GreenOak, has sold a warehouse located at number 208 Avenida Andalucía in Valdemoro (Madrid) for €9.75 million, according to reports made by the company to the Alternative Investment Market (MAB).

The warehouse has a leasable surface area of 24,449 m2, comprises two above-ground floors and is located just 27 km from the centre of the Spanish capital.

The asset has been vacant since July 2016 and owned by Gore Spain since February 2017, which purchased it from Goodman. The identity of the buyer on this occasion has not been revealed.

Original story: Eje Prime (by Roger Arnau)

Translation/Summary: Carmel Drake

Amazon to Open its Largest Logistics Warehouse in Dos Hermanas

1 March 2019 – ABC Sevilla

Amazon is going to open its largest distribution centre in Spain in the Megapark business park in Dos Hermanas (Sevilla) to become the park’s first tenant. The new mega-warehouse will have a constructed surface area of around 190,000 m2 on a plot spanning 165,000 m2 and is expected to be operational from 2021.

The e-commerce giant has been searching for a suitable facility for months and has opted for Megapark in the end due to its excellent road network and proximity to the Port of Sevilla, where it will open a new logistics station.

The plot of land and the future warehouse will both be owned by the investment fund Goodman Real Estate Spain, with which Amazon is expected to sign a lease contract within the coming days.

One of the benefits of the location in Sevilla is the availability of the port, which means that Amazon will be able to offer a more comprehensive delivery service to the Canary Islands by boat.

The business park is located opposite the La Isla industrial estate, between the A-4 motorway towards Cádiz and the future SE-40 ring-road.

Original story: ABC Sevilla (by Elena Martos)

Summary/Translation: Carmel Drake

Goodman to Develop 285,000 m2 of Logistics Land in Spain

16 January 2019 – Eje Prime

Goodman is boosting its business in Spain. The inmo-logistics giant is entering 2019 with a portfolio for development that spans a surface area of more than 285,000 m2. The company is going to finalise two projects spanning more than 100,000 m2 this year, after increasing its portfolio by 30% in 2018, according to reports from the company.

In the last year, the occupancy rate of Goodman’s assets in Spain was 100%, reaching a total surface area of 106,000 m2. Its most recent completed projects include a turnkey in the Zona Franca of Barcelona and a last mile logistics platform in Madrid.

Both developments had e-commerce companies as the client. Not in vain. E-commerce “consolidated its position as the great ally of the industry by demanding large, high-quality logistics spaces in strategic locations, and with easy access to the major cities”, explained Ignacio García Cuenca, Director General of Goodman in Spain.

Currently, the company is developing four logistics platforms in Cataluña, one of the regions in which it is most active. Specifically, the company is going to build 111,000 m2 in Barcelona.

Moreover, Goodman is going to finalise several projects in 2019 including a 75,000 m2 logistics platform in Alcalá de Henares and a 33,000 m2 asset in León.

In Illescas (Toledo), the new logistics hub of central Spain for the development of large logistics warehouses, the Australian giant is going to start building a facility spanning more than 66,000 m2 this year.

Goodman Group is present in Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil, and has a portfolio of assets under management worth €24.3 billion.

Original story: Eje Prime 

Translation: Carmel Drake

Forcadell: 486,946 m2 of Logistics Space Leased in Cataluña in First 9 Months

10 October 2018 – Eje Prime

The Catalan logistics sector is seeing its figures soar. With three months still to go before the end of the year, the industrial segment of the real estate sector has already exceeded the total volume of space leased in all of 2017, with 486,946 m2 leased during the first nine months of 2018, according to data from the real estate consultancy Forcadell.

The report from the Catalan consultant points out that during the third quarter of 2018, 99,557 m2 of logistics space was leased, up by 28% YoY. That figure means that the leasing volume to date exceeds the figure recorded by Forcadell at the end of last year (459,451 m2).

The second ring of Barcelona is leading the increase in the Catalan logistics sector, accounting for 47% of the operations signed during the third quarter.  In total, seven operations were registered in this area between June and September, with 50,341 m2 of industrial land leased.

The second ring was followed by the first ring, which accounted for 40% of operations and a total leasing volume of 43,216 m2. The third, with some plots located in the province of Tarragona, accounted for 13% of the transactions in this market in Cataluña.

The Director of Industrial and Logistics at Forcadell, Gerard Plana, said that “new construction projects are continuing to offset the lack of available supply”. Seven of the fifteen operations that were completed during the third quarter in Cataluña involved new build or turnkey assets.

In terms of the largest operations signed during that period, they included Henkel’s new 24,000 m2 warehouse in Montornès del Vallès and the 10,520 m2 warehouse that Mercadona leased from Goodman in Barcelona’s Zona Franca area.

Original story: Eje Prime

Translation: Carmel Drake

Prologis & Goodman Bid for 24,700 m2 Logistics Plot in Valencia

26 April 2018 – Eje Prime

Giants in the logistics sector are looking to expand their domains in Valencia. Prologis and Goodman have entered the auction for a plot of land spanning 24,700 m2 in the Valencia Logistics Park, also known as PLV. The space is currently owned by the Generalitat Valenciana, which has also put a second industrial plot up for auction, on the same industrial estate and spanning 8,600 m2, for which it has received just one offer.

In total, three other groups have also bid for the largest plot of land up for sale, besides the two international operators, namely: Inversiones y Terrenos Rústicos, VGP Naves Industriales Península and Servicio y Calidad, according to Valencia Plaza.

The five companies are bidding for a plot that the administration has placed on the market offering the option of the purchase and surface area rights, although the Generalitat is going to prioritise offers that express an interest in carrying out an operation over the second point.

After this operation, the Valencian administration will still need to sell 44,600 m2 of logistics land and 16,900 m2 of tertiary land. Moreover, the Generalitat is planning to place another 46,800 m2 of space on the market this year for a concession for a heavy vehicle parking lot on the M2 plot of the logistics park.

Original story: Eje Prime

Translation: Carmel Drake