Invesco Sells a Logistics Warehouse to M&G Investments for €32M

21 June 2019 – Expansión

The global investment manager Invesco has completed the sale of a logistics warehouse in Getafe (Madrid) to the British firm M&G Investments for €32 million.

The warehouse, which was constructed in 2018, has a surface area of 29,536 m2 and 36 loading docks. It is located on the Los Gavilanes industrial estate, by the junction of the A4 with the M-50.

The property has an occupancy rate of 85% and is leased to a number of tenants including the supermarket chain Mercadona and the specialist transport company Acer. It is certified as a sustainable building with a LEED Silver rating.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake

Merlin Buys 43,000 m2 Logistics Plot in Toledo

20 March 2018 – Eje Prime

Merlin is incorporating new land into its portfolio. The Socimi has purchased a plot measuring 43,000 m2 in Seseña, Toledo, where it is going to build a logistics platform with a total constructed surface area of 28,408 m2. Construction work at the site is due to start within the next few weeks, with the aim of making the property available within a year, during the first quarter of 2019.

The constructed surface area will be dividable into four separate spaces. Two of them will have a total surface area of 7,026 m2 each, with 13 loading bays, 6,636 m2 for warehouse use and 390 m2 for offices.

Similarly, another module will have a total surface area of 4,816 m2, of which 4,426 m2 will be for warehouse use with seven loading bays and 390 m2 for offices.

Finally, the largest space of the four will measure 9,540 m2, with a warehouse spanning 9,150 m2 and 17 loading bays, with the same amount of office space as the others, in other words, 390 m2.

The Socimi closed 2017 with a net profit of €1.1 billion, up by 88.8% compared to 2016. Its real estate portfolio appreciated in value to reach more than €11.3 billion, with an increase of more than 10% in comparable terms with respect to 2016.

The revenues of the group led by Ismael Clemente also grew last year. Merlin recorded revenues from rental income of €484.3 million, up by 29.3% compared to the previous year, when the group’s turnover amounted to €362.8 million.

Original story: Eje Prime

Translation: Carmel Drake

Savills Aguirre Newman: Logistics Demand Soars in Andalucía

26 January 2018 – Eje Prime

The logistics sector is growing throughout Spain. Demand for high-quality logistics products with a surface area of more than 5,000 m2 is increasing significantly in Málaga and the Costa del Sol, as a result of the growth in consumption in this region of Andalucía, according to a report from the international consultancy firm Savills Aguirre Newman.

The company says that interest is continuing to grow from logistics operators looking to either position themselves in the region or improve their existing facilities, whilst the supply of high-quality logistics spaces spanning more than 5,000 m2 “is very limited”. The firm indicates that the most sought-after types of facilities are those measuring between 5,000 m2 and 15,000 m2, provided they are accompanied by land that allows logical operations with loading bays and sufficient room for vehicle manoeuvring.

Nevertheless, “this product is scarce, and that shortage is limiting the arrival of companies in the province, where there is an extensive supply of warehouses and mini-warehouses very focused on local operators, but a distinct lack of supply of large warehouses”, explains Vicente Bernabé, Head of Industrial and Logistics Markets for Andalucía at Savills Aguirre Newman.

With forecast demand of around 50,000 m2 for spaces measuring more than 5,000 m2 in Málaga and the Costa del Sol in 2018 and a limited current supply of just one asset exceeding that threshold, Bernabé indicates that 2018 will be “a key year for the sector in the region”.

Original story: Eje Prime

Translation: Carmel Drake

Elektro3 Opens State-Of-The-Art Logistics Centre In Tarragona

13 October 2017 – Mis Naves

Elektro3 is opening a new logistics centre in Vilaseca-Salou with a total surface area of 15,500 m2, of which 8,000 m2 is going to be used exclusively as a warehouse. The centre currently has capacity for 14,000 pallets and 12,500 bins.

The company, whose main operations involve the import and distribution of hardware products, is continuing its expansion process. The main improvements are expected in the storage, preparation and shipment of orders with refurbished industrial machinery and a new rail guidance system.

In turn, the centre has seven loading bays, which allows it to receive and ship all of the company’s products anywhere on the peninsula within 24 hours.

With these new facilities, Elektro3 is expected to be able to reach its objective of managing 8,500 product references, thanks to the implementation of a specialist framework of warehouse management systems. Also, a new 600 m2 showroom has been created inside the new platform, with an area specialising in the display of all products relating to lighting.

Original story: Mis Naves

Translation: Carmel Drake

Trajano Iberia Buys 4 Logistics Warehouses For €42.9M

5 December 2016 – Heraldo

The Socimi Trajano Iberia, which is listed on the Alternative Investment Market (MAB) and which is managed by the real estate investment division of Deutsche Asset Management, has purchased four logistics warehouses in Zaragoza for €42.9 million, according to reports from sources at the company on Friday.

The assets are located in the Campus Plaza 3.84 industrial estate in Zaragoza, the city’s main logistics centre. The location is “strategic” given that it is at the centre of Spain’s main logistics thoroughfares (between Madrid-Barcelona and Euskadi-Valencia), according to the sources.

The assets, which are leased in their entirety to 6 tenants, have a combined surface area of 72,484 m2 and 68 loading bays.

The average life of the contracts (until the first maturity date) exceeds 6.5 years. The longest lease is not due to expire for more than 10 years.

After completing this purchase, Trajano Iberia has now invested €181 million in total. It has a combined managed surface area of 117,000 m2 and an average purchase yield of 6.7%.

The company’s current product mix comprises: offices (31%), shopping centres (34%), logistics assets (22%) and high street stores (13%).

In October, the company completed a €47 million capital increase in order to undertake additional investments amounting to between €95 million and €100 million.

The Trajano Iberia Socimi was created in June 2015, with the aim of investing in a mixed portfolio of diverse properties in Spain and Portugal, primarily for rental.

Since its constitution, the company has raised funds amounting to €142 million and has carried out the procedures necessary to enable it to be listed on the MAB, which is a necessary requirement for it to be allowed to operate as a Socimi, say the sources.

Original story: Heraldo

Translation: Carmel Drake

Inbisa Sells 27,000 sqm Logistics Platform To Primafrío

29 September 2016 – Mis Naves

“The ability of Inbisa and the Asua Real Estate Group to offer our clients the best options in terms of location and facilities, adapting ourselves to the needs and requirements in each case, is the key factor that enable transactions of this kind to go ahead”, said sources at the company.

Inbisa, through the Asua Real Estate Group, has sold the “Inbisa San Román Logistics Platform”, located at km 385 on the N-1 highway, 25km from Vitoria and 95km from the border with France, to the international transport company Primafrío.

The logistics platform has a surface area measuring more than 27,000 sqm, as well as more than 5,200 sqm of constructed space, split between a warehouse (covering 4,000 sqm in terms of floor space) with 20 loading bays and 10m free height inside and offices ( measuring 375 sqm). Moreover, the site has another independent building (measuring 903 sqm), which is used for fleet services, as well as workshops for maintenance and a car wash for trucks.

According to sources at Inbisa, “Primafrío, which will open one of its largest operating headquarters in Spain at the “Inbisa San Román Logistics Platform”, has chosen these facilities thanks to their strategic location, along one of the country’s main logistics corridors, which links Madrid with France and the rest of Europe. Similarly, the characteristics of the logistics platform are perfectly suited to the requirements of the transport company, as it offers all of the infrastructure necessary for it to undertake its business and logistics activity”.

Original story: Mis Naves

Translation: Carmel Drake

Merlin Buys Logistics Centre In Meco For €22.2M

13 May 2013 – Mis Naves

The Socimi Merlin Properties has purchased a logistics centre located in the R-2 industrial estate in Meco from the real estate asset management company Kefren Capital for €22.2 million. The property, built on a plot of land measuring 50,727 m2, occupies a surface area of 35,285m2, and contains four modules, 31 loading bays and 4 HGV doors. The Dachser Group leases the entire platform.

The legal advisors to the transaction were Broseta on the sell-side and Garrigues on the buy-side.

KCRE acquired this asset in August 2014 following the bankruptcy of the company Coperfil and it financed the transaction through Nordic investors, which acquired capital, as well as by securing a loan for the project from CaixaBank.

Original story: Mis Naves

Translation: Carmel Drake