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 Buys a 28,500 m2 Warehouse in Granollers

29 January 2019 – Eje Prime

Segro is continuing to grow its logistics portfolio in the Spanish market. The British Socimi has acquired a distribution centre measuring 28,500 m2 in Granollers (Barcelona), leased to the logistics operator ID Logistics, with which Segro has a long-term agreement.

The asset was constructed in 2019 and is located thirty kilometres from Barcelona, with easy access to the A7 and C17 motorways. The group has highlighted “the location and access of the asset for distribution across the south of Europe”.

The company, founded in 1920, entered Spain in 2015 with the development of a logistics centre in Martorelles (Barcelona). Since then, Segro has purchased a 16,000 m2 logistics park in Coslada (Madrid), another 49,000 m2 site in Castellar del Vallès (Barcelona), a second plot in Martorelles, where it is constructing an asset spanning 20,000 m2, and a plot in San Fernando de Henares.

Segro has also added other plots in Getafe (Madrid), Sant Esteve Sesrovires (Barcelona), Mollet del Vallès (Barcelona) to its portfolio, as well as a second building in Coslada (Madrid), and Villaverde (Madrid). In total, the firm has a portfolio spanning 400,000 m2 of constructed space in Spain and another 70,000 m2 under construction.

Original story: Eje Prime 

Translation: Carmel Drake

ID Logistics Buys Logiters From Corpfin Capital For €85M

28 June 2016 – Expansión

The multinational logistics space management company ID Logistics has purchased Logiters, manager of logistics surface areas and owner of warehouses in Spain and Portugal. The company, which was owned by the private equity fund Corpfin Capital, has been valued at €85 million.

Logiters manages 50 logistics warehouses, with capacity of more than 750,000 sqm, spread across different locations in Spain and Portugal. In 2015, it recorded revenues of €250 million and closed the year with a workforce of 3,300 employees.

The aim of ID Logistics is to strengthen its presence in these two markets, as well as to grow in the sectors in which Logiters is very specialised, such as pharmaceutical and automotive logistics.

Following this acquisition, ID Logistics also strengthens its position in Europe, which accounts for 82% of its business. The operation is subject to approval by Spain’s National Commission for Markets and Competition.

The buyer

ID Logistics owns more than 200 platforms across fourteen countries, representing a combined warehouse surface area of more than 4.3 million sqm in Europe, Latin America, Africa and Asia. The company employs 15,000 people in total.

Meanwhile, Corpfin Capital is an independent private equity firm that focuses on the local and international expansion of Spanish SMEs. It took control of Logiters two years ago.

According to Álvaro Olivares, Partner at Corpfin Capital, “over the last two years, we have accompanied Logiters through a major recovery process”. And he added that now, “under the management of ID Logistics, the company will be capable of realising its full growth potential”.

Original story: Expansión (by M. A.)

Translation: Carmel Drake