Gazeley Finalises the Construction of a Warehouse Spanning 37,000 sqm in Toledo

The G-Park Illescas platform has been designed to accommodate the activity of logistics, e-commerce and distribution companies.

The property developer Gazeley has completed the construction of a 37,000-square-metre industrial warehouse in Illescas (Toledo), which is available for immediate occupation. The G-Park Illescas platform has been designed to house the activity of logistics, e-commerce and distribution companies.

The platform has a free height of 11.7 meters and motion sensors that allow for the remote control of the building. The warehouse also has more than 250 private parking spaces for cars and 20 spaces for trucks. The Director of Gazeley Spain, Oscar Heras, said: “We have made significant progress with the expansion of our portfolio in order to meet the growing demand from logistics customers.”

Mountpark Invests €70M in a New Logistics Project in Illescas

The joint venture between USAA Realco and Mountpark is building an 86,200-square-metre warehouse on the Iberum Central Platform in Illescas (Toledo).

The logistics company Mountpark, controlled by the firms USAA Realco-Europe Holdco and Mountpark, has announced an investment of €70 million to launch a new logistics project called Mountpark Illescas I, located in the town of Illescas (Toledo). “Over the last 2 years we have been buying up land from various owners and now we have enough space to build an XXL warehouse,” explains John Derweduwe, Director of Mountpark for Spain and Portugal, speaking to Brainsre.news.

The project will comprise a warehouse spanning 86,200 square metres on the Iberum Central Platform distribution park, which is located in one of the main industrial corridors of the Spanish market, 35 kilometres from Madrid. The warehouse, which will have a free height of 12 metres and 143 loading docks, has been designed to obtain an “Excellent” BREEAM sustainability certificate. In this way, it will have a roof equipped with photovoltaic panels that, together with a battery system, will generate renewable energy for night shifts.

Savills: Logistics Leasing in Madrid Rose by 2% in 2018 to Exceed 935,000 m2

14 January 2019 – Savills Aguirre Newman

The logistics market in Madrid has registered a new leasing record. The boost from e-commerce has been the main driver behind the absorption of 935,000 m2 of space in 2018, which represents an increase of 2% with respect to the historical record figure in 2017, according to data from Savills Aguirre Newman.

During the last quarter, 23 operations were signed involving more than 300,000 m2 of space, compared with 24 operations and 308,000 m2 of space during the same period in 2017. During the year as a whole, 77 operations were registered in 2018, compared with 70 during the previous year. It is worth highlighting the importance of the cross-docking activity during 2018, where seven operations were closed.

In terms of rental prices, the €8/m2/month peak that established the annual maximum was recorded at T4 (Airport) in Barajas. Excluding that figure, due to the uniqueness of the Barajas market, maximum rents exceeded €6/m2/month in a cross-docking operation in San Fernando de Henares. The incorporation of new high-quality projects that are adapted to the requirements and expectations of the operators have favoured an increase in prime rents to €5.5/m2/month (+7% YoY).

In terms of the size of the operations, almost 50% of the space leased during the last quarter of the year was concentrated into four operations spanning more than 30,000 m2 each, all of which were signed in the third ring.

By area, the distribution of the surface area leased between October and December was very homogeneous, with 55% and 45% registered in the Corredor del Henares and the southern area, respectively, although the Corredor del Henares continued to capture the most demand. The distribution in terms of the number of operations clearly showed the superiority of Corredor del Henares, which accounted for 70% of all activity (16 operations).

The annual analysis by area reveals a similar picture. The volume of surface area leased was very similar (>495,000 m2 in Corredor del Henares and >408,000 m2 in the southern area), but by number of operations, Corredor del Henares again accounted for the bulk of activity (48 operations versus 22 in the south).

Activity in the land market is continuing to gain weight. During 2018, 34 operations were signed in total spanning 1,800,000 m2 (+60% YoY). It is worth highlighting the three areas that accounted for almost 50% of the land surface area operations: Guadalajara (>350,000 m² in 2 operations), Illescas (>326,000 m² in 4 operations) and Torija (>279,000 m² in 4 operations).

The year closed with an availability rate of 6.9%, which represents a decrease of almost two points with respect to 2017. During 2018, more than 650,000 m2 of space was incorporated into the market, of which 67% was already committed. The future supply for 2019 will exceed 1,500,000 m2, of which 30% already have pre-rental contracts.

The dynamism in the market for users of the logistics sector during 2018 has been reflected in the investment market, with 45 operations exceeding €1.3 billion. Those figures mark new records in the historical ranking. The number of transactions involving individual assets stood out since it exceeded the figure recorded in 2017 by three times.

Original story: Savills Aguirre Newman 

Translation: Carmel Drake

SEUR Logística to Unify its Madrid Warehouses into a New Centre in Illescas

11 January 2019 – Inmodiario

SEUR Logística, the SEUR business unit dedicated to offering integral logistics and transport solutions, is going to consolidate its warehouses in the Community of Madrid into a new facility in Illescas.

Goodman, one of the leading companies in the world in industrial properties, will begin construction of the new 36,000 m2 centre in March 2019. The site is expected to be operational from the beginning of 2020, allowing the company to expand its storage capacity and improve the efficiency of its operations in Madrid.

The new warehouse will be constructed in accordance with strict sustainability criteria and will incorporate new charging points for SEUR’s electric vehicle fleet.

The launch of the new warehouse in Illescas will involve the unification of SEUR’s existing logistics operations at its centres in Getafe (15,000 m2) and Alcalá de Henares (almost 12,000 m2). The new centre will house 200 workers and will contain 1,600 m2 of space dedicated to offices and rest areas for employees (…).

Original story: Inmodiario 

Translation: Carmel Drake

Mountpark to Build its 4th XXL Warehouse in Madrid

21 November 2018 – Eje Prime

Mountpark is getting a taste for the Iberian Peninsula. The logistics vehicle, specialising in the development of XXL assets, is going to start work on its fourth warehouse in Madrid in the middle of 2020, on a site spanning 100,000 m2, located in the south of the Spanish capital.

Including that plot, the company currently has a portfolio of land in the country that exceeds 330,000 m2, which it expects to expand very soon with new purchases in Barcelona and Valencia, according to explanations provided by John Derweduwe, the Director General of Mountpark for Spain and Portugal, to Eje Prime.

The group does not want to delay its entry into Portugal any longer. “We are on the verge of closing the purchase of a new plot in Lisbon”, said the Director, who added that his firm has been preparing its debut in the Portuguese market for some time. The delay has been due to the difficulty in finding the right plot to develop warehouses measuring between 80,000 m2 and 100,000 m2, which has been Mountpark’s main objective since its creation in 2017.

Whilst it continues to identify new plots on the Peninsula, the company is focusing its efforts on the development of three of the assets that it already owns in Madrid: two spaces in the Iberum Central Platform in Illescas (Toledo), which span almost 135,000 m2 and a third site in Alcalá de Henares, measuring 100,000 m2.

In fact, yesterday, the first brick was laid in Mountpark II, the e-commerce logistics platform measuring 44,000 m2 that the group is building for the logistics operator XPO, with an investment of €30 million.

The space will be leased to the Swedish fashion retail giant H&M from June 2019 and represents a “great opportunity for economic growth in the region”, according to the President of Castilla-La Mancha, Emiliano García-Page, on the first day of construction at the complex (…).

In search of the giants of the future

Mountpark is on the hunt for buyers for its projects in Spain. After signing its first contract with XPO Logistics, the company now has several firms interested in Mountpark I, the second logistics platform that it owns in Illescas, measuring 90,000 m2, as well as the complex that it is planning to construct in Alcalá de Henares.

“Our potential clients fit one of three profiles: logistics operators, large companies in the world of technology and the automotive industry, and retail giants who want to commit heavily to e-commerce”, explained John Derweduwe (…).

The parent company of the Iberian subsidiary led by Derweduwe is Mountpark Logistics, a joint venture between Usaa Realco-Europe Holdco, the Dutch subsidiary of Usaa Real Estate and Mountpark Finco Sarl (Mountpark). The joint venture promotes large logistics buildings across Europe, but with the focus placed primarily on the United Kingdom, Western Europe and Central Europe. Mountpark owns a portfolio comprising 16 assets with the potential to offer more than 1.85 million m2 of logistics facilities in the continental market.

Original story: Eje Prime (by B. Seijo)

Translation: Carmel Drake

Aguirre Newman: Almost 1 million m2 of Logistics Space Leased in Madrid & Barcelona YTD

21 November 2017 – El Inmobiliario Mes a Mes

In total, 929,698 m2 of logistics space was leased in Madrid and Barcelona during the first three quarters of 2017, up by 22.6% compared to the same period in 2016, whilst the volume of investment in logistics assets reached €600 million. That figure represents 76% of the total recorded last year, which marked a historical maximum investment volume in Spain, according to Aguirre Newman.

During the third quarter of 2017, the high level of investor interest in logistics assets, which started four years ago, continued to flourish. It was boosted by factors such as the consolidation of economic growth, the gradual improvement in household consumption, rising rental prices in the main markets and improvements in financing conditions.

The initial rate of return for the most prime assets in the best locations amounted to around 6%, and rates of around 5.5% were seen for certain one-off operations. According to the report from Aguirre Newman, the scarce supply in the main logistics markets in Madrid and Barcelona is affecting the market in two ways. On the one hand, interest in secondary markets is continuing to rise, most notably in Zaragoza, Valencia and Sevilla. On the other hand, there is a high degree of interest in buying land, either to develop speculative projects or to build turnkey projects, under forward funding or forward purchasing formats.

Demand for logistics space in Madrid during the third quarter of the year reached 226,757 m2, compared to the total cumulative space leased in 2017 of 614,070 m2. That figure represents an increase of 52% with respect to the same period last year. Both the activity recorded during the third quarter – which is closely related to e-commerce – as well as that registered during the year to date represent record levels never seen before, and so the report forecasts that the end of 2017 will also be very positive in light of the operations currently underway.

The most significant operation in terms of the volume of surface area leased in the third quarter was completed in Illescas (Toledo), where an operation involving a turnkey project with a surface area of 103,000 m2 was signed. That was followed by another operation closed by Leroy Merlin in Meco with a surface area of 59,914 m2. In terms of rental income, the maximum recorded was €4.85/m2/month, as a result of an operation closed in the Corredor del Henares, specifically in San Fernando de Henares.

According to Aguirre Newman’s research, activity in the market for land dedicated to logistics/industrial use has grown considerably with respect to previous quarters, with the completion of seven operations spanning a combined surface area of 379,096 m2, destined for both turnkey and at-risk projects. The most significant land operation was the purchase of a plot measuring 242,000 m2 in Illescas (Toledo) for the development of the aforementioned logistics platform (103,000 m2).

On the other hand, the leasing of logistics space in Barcelona amounted to 91,406 m2 during the third quarter, which represents a slight decrease of 9% compared to the same period in 2016. Meanwhile, the total surface area leased during the first nine months of 2017 amounted to 315,628 m2.

Vallès Oriental and Barcelonès were the most active regions in terms of the number of operations, where three and two operations were closed, respectively. In terms of the largest operations closed, a contract was signed in Alt Penedès for a space spanning 20,000 m2 and in Vallès Oriental, another contract was signed for a space measuring 14,000 m2. Prime rents continued at their levels of between €5.75/m2/month and €6.75/m2/month. Nevertheless, the report from Aguirre Newman highlights that one operation was closed in the Zona Franca Consortium with a rental price above the prime rate indicated.

Leasing of logistics space soars in Valencia

Moreover, during the first nine months of the year in the Valencia metropolitan area, 135,250 m2 of logistics space was leased. That figure represents an increase of 35% with respect to the same period a year earlier, according to BNP Paribas Real Estate.

In that region, demand focused primarily on the town of Ribarroja, which accounts for 80% of the surface area leased (…).

Original story: El Inmobiliario Mes a Mes

Translation: Carmel Drake

Aguirre Newman: Logistics Demand Soars By 23% In Madrid & Barcelona

17 October 2017 – Eje Prime

Demand for logistics space in Madrid and Barcelona is on the rise. During the first three quarters of 2017, 929,698 m2 of logistics space was leased, which represented an increase of 22.6% compared to the volume leased during the same period in 2016, according to data released by the Logistics Market Monitor for Madrid and Barcelona 2017, compiled by the real estate consultancy firm Aguirre Newman.

The volume of investment reached €600 million (during the 9 months to September 2017), which accounts for 76% of the total recorded during the whole of last year. That figure, in turn, represented a historical maximum in terms of investment volumes in Spain.

“The high level of investment activity in logistics assets that began four years ago continued during the third quarter of 2017. It was boosted by factors such as the consolidation of economic growth, the gradual improvement in consumption by households, rising rental prices in the main markets and an improvement in financing conditions”, say sources at the consultancy firm.

By market, demand for logistics space in Madrid during the third quarter of 2017 amounted to 226,757 m2, which took the total cumulative volume of space leased so far in 2017 to 614,070 m2, up by 52% compared to the same period last year.

The most significant operation, in terms of the volume of space leased during the third quarter, was closed in Illescas (Toledo), where a turnkey operation was signed involving a space measuring 103,000m2. It was followed by another operation in Meco involving a logistics space measuring 59,914 m2.

In terms of rental prices, the maximum reached has been €4.85/m2/month, as a result of an operation closed in the Corredor del Henares, specifically, in San Fernando.

“Activity in the market for land with logistics and industrial use has grown considerably with respect to previous quarters, given that seven operations have been signed, involving a combined surface area of 379,096 m2 (…)”, say sources at the consultancy firm.

In Barcelona, 91,406 m2 of logistics space was leased during the third quarter, which represented a slight decrease (of 9%) compared to the same period in 2016. Meanwhile, the total cumulative space leased during the first nine months of the year amounted to 315,628 m2.

Prime rental prices in the Catalan capital continue to range between €5.75/m2/month and €6.75/m2/month. Nevertheless, Aguirre Newman’s report highlights that one operation was closed in the Zona Franca Consortium for a rental price that exceeds the prime rent.

Original story: Eje Prime

Translation: Carmel Drake