Tag: logistics centre

Decathlon Opens 3 New Stores In Central Madrid

5 September 2017 – Expansión

The French multinational sports equipment retailer Decathlon is raising its profile in the centre of Madrid by opening new large format stores in three of the Spanish capital’s main commercial thoroughfares.

Specifically, Decathlon is going to open one store at number 63 on Calle Princesa. The premises, which are owned by a family office, comprise two retail floors and a basement, with a total surface area of 1,700 m2. The operation has been advised by JLL. Similarly, the company is going to open a store with a surface area of 2,400 m2 in the Mercado de Fuencarral building, located at number 45 on the central Madrilenian street.

The Mercado de Fuencarral, which has been closed since 2015, comprises three floors and has undergone a complete renovation to be leased to a single tenant. The property is now owed by the real estate manager AEW, after it purchased the building this summer from Activum SG Capital Management (ASG) for €50 million.

Similarly, the sportswear firm will soon open a store at numbers 22 and 24 on Calle Ortega y Gasset spanning 2,600 m2.

Decathlon, which made its debut in Spain in 1992 with the opening of a shop in Badalona, currently has 158 stores across the country and six logistics centres, two of which are continental supply points.

In this way, Spain is the multinational’s third largest market by number of stores behind France (305) and China (222). As part of its strategy to bring stores closer to city centres, the French group has opened 37 Decathlon City stores in Spain over the last few years.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Segro Acquires 5.3ha Plot In San Fernando De Henares

2 August 2017 – Press Release

Segro, the British investment fund that specialises in the logistics sector, has acquired a plot of land in San Fernando de Henares, Madrid. The plot has a surface area of 5.3 hectares and is located 17km away from Madrid, at the intersection of the A-2 and M-50 motorways, to the south east of Barajas airport.

The plot acquired by Segro is currently leased to a group that plans to operate the site as a logistics service centre for automobiles until 2022. This operation forms part of Segro’s strategy in Spain, which involves developing modern logistics facilities and urban buildings to support high-quality and sustainable distribution.

With this new acquisition, Segro is strengthening its presence in the Spanish market, where it is positioning itself as one of the major investors and developers in the logistics sector.

“San Fernando de Henares has become a key location, with several projects due to be launched over the short to medium term. This acquisition strengthens our position in Spain, in a strategic place that is just 17km from Madrid and it will allow us to build a logistics centre in a few years”, said David Alcázar, Director of Segro España (…).

Segro launched its activity in Spain in 2015 and since then has built up a portfolio containing five assets, covering a combined surface area of 120,000 m2 (constructed or under development) in strategic locations on the outskirts of Barcelona and Madrid.

Original story: Press Release

Translation: Carmel Drake

Amazon Opens New Logistics Centre In Madrid

26 July 2017 – Expansión

Amazon has announced the inauguration of a new logistics depot in Getafe (Madrid), which will see the creation of around 80 direct jobs next year. This centre will allow Amazon “to operate in Spain with greater capacity and flexibility and whereby offer faster deliveries to its clients and a better service to businesses who sell their products on Amazon and use its logistics network”, according to the dot.com.

Moreover, Amazon has introduced new software for the distribution companies that work with it so that they can optimise their delivery times through route recommendations and, for example, by factoring in speed limits and daily traffic patterns.

The company led by Jeff Bezos may be planning to open a logistics macro-centre in Toledo and two more facilities in Madrid, which would create a network of 25 warehouses spread all over the country. For the time being, Amazon’s logistics network in Spain includes the San Fernando de Henares centre (Madrid) and a centre in Castellbisbal (Barcelona) dedicated to Amazon Pantry, as well as two urban centres in Madrid and Barcelona to serve its Prime Now users.

Original story: Expansión (by M. Juste)

Translation: Carmel Drake

Amazon Constructs New Logistics Centre In Paterna (Valencia)

18 July 2017 – Eje Prime

Amazon is continuing to expand its logistics business in Spain as it strengthens its activity. The US company has started work on a new logistics centre in Paterna (Valencia), at the same time as launching three new warehouses in Spain’s central region: one in Illescas (Toledo) and another two in the Madrilenian towns of Los Gavilanes de Getafe and Alcobendas.

For the time being, Amazon has submitted a statement of compliance to the Town Hall of Paterna, prior to the launch of its “logistics warehouse” activity, according to El Mundo. The document submitted by the US company will allow it to open and begin its activity within a maximum period of one month, provided that no objections are raised by the municipal technicians during that time.

The operation affects a plot that has the option of being extended considerably and which may become one of the group’s first strategic sites in the Comunidad Valenciana with regards to the future of its logistics network in the country.

In recent months, Amazon has stepped on the accelerator in terms of logistics with the investment of €30 million in a plant in El Prat del Llobregat (Barcelona) and the expansion of its Madrilenian centre in San Fernando de Henares. The group has also launched three new facilities in Cataluña: two centres to provide support for urgent deliveries and one logistics centre in Castellbisbal.

Original story: Eje Prime

Translation: Carmel Drake

Mercadona Buys 3 More Logistics Plots In Sagunto

12 June 2017 – Expansión

The Parc Sagunt industrial estate, which has been dormant for years and which has been promoted by the Sepi and the Generalitat Valenciana, is set to become one of the main logistics centres of the supermarket chain Mercadona.

In December, the group announced the purchase of the largest plot on the estate, measuring 358,000 m2 in total, for the construction of a buffer warehouse. On Friday, the Board of Directors of Parc Sagunt – in the Valencian town of Sagunto – announced the sale of another three, smaller, plots to Mercadona. Together, these latest plots cover a surface area of 211,000 m2.

The operation in December saw Mercadona pay €24 million, whilst the acquisitions announced on Friday amounted to €17 million. As such, to date, the chain has spent €41 million buying plots of land in Parc Sagunt. Oriol Montanyà, Logistics Director at Mercadona, said that these plots “will serve to complement the future requirements that may arise at the main warehouse that the company plans to build with service, grouping and packaging warehouses”.

Cluster of suppliers

The idea that Parc Sagunt could end up being a logistics cluster for Mercadona’s suppliers is gaining momentum, given that, on Friday, the industrial estate also approved the sale of another plot of land, measuring 16,000 m2, to the company Vostok, which is going to pay €1.4 million. That company has very close links with Mercadona, given that it collaborates with (…) its integrated supplier Patatas Lázaro, which works almost exclusively for the supermarket chain.

Original story: Expansión

Translation: Carmel Drake

Amazon To Open Logistics Centre In Martorelles

7 April 2017 – Press Release

Amazon’s commitment to Cataluña continues to grow. The e-commerce giant is going to open its new headquarters in Martorelles, specifically, in the Martorelles Logistic Park. Sources at the town hall assure that this new facility in Martorelles will result in the creation of 650 new jobs over the next three years. “Amazon plans to launch operations in the autumn with 200 people”, explained the mayor of Martorelles, Marc Candela.

Amazon will take over the four warehouses in the logistics park, which cover a surface area of 30,000 m2, equivalent to four football pitches. This is Amazon’s fourth investment in Cataluña after it confirmed the creation of a logistics macro-centre in El Prat in June; in September, it will inaugurate a warehouse in the centre of Barcelona from where it will ship products for delivery in less than one hour; and in October, it will build another logistics centre in Castellbisbal.

Warehouses A and B at the Martorelles Logistic Park, the logistics platform developed by the investor group Segro on the grounds of the former Domar-New Pol, on the Martorelles industrial estate, are about to begin operating. Currently, half of the facilities are ready and construction is beginning on the second phase of the logistics complex, warehouses C and D.

Original story: Press Release

Translation: Carmel Drake

Amazon Negotiates Rental Of 13,000 m2 Office Space In Barcelona

27 February 2017 – Expansión

The distribution giant Amazon is preparing to make its debut in the 22@ technological district of Barcelona. The company is negotiating the rental of 13,000 m2 of office space in the future Luxa building, which is being promoted by the Castellví group. If the agreement is signed, it will represent the latest chapter in the company’s recent offensive to expand its presence in Cataluña.

Sources close to the negotiations indicate that the agreement between the two parties may be signed within the next three weeks. Meanwhile, spokespeople for Amazon and Castellví have declined to comment on the information.

The Luxa building is going to be split into two units: the main section will have a surface area of 9,920 m2, whilst the second building will add another 6,494 m2 of space. Between the two, there will be almost 17,000 m2 of office space, which means that Amazon will occupy 75% of the total.

The likely arrival of Amazon in 22@, which was revealed by the website Ejeprime, confirms the boom times that the area is enjoying. Another recent high-profile operation involved the technology company Schibsted, which last week announced its plans to move into an office building promoted by the real estate firm Colonial.

In recent months, Amazon has made a strong commitment to Cataluña. The company led by Jeff Bezos will open a 60,000 m2 logistics centre in El Prat de Llobregat (Barcelona) in the autumn, following a €200 million investment. And a few months ago, the giant inaugurated another logistics centre, measuring 28,000 m2, in Castellbisbal (Barcelona). Meanwhile, at the beginning of last year, the firm opened a collection point in el Eixample.

Original story: Expansión

Translation: Carmel Drake

Isak Andic Sells Mango Logistics Centre To VGP For €150M

21 December 2016 – Expansión

Isak Andic has decided to re-launch his property company Punta Na and turn it into a real estate firm specialising in flagship stores (iconic shops located on major shopping streets). To this end, Andic has signed a deal to generate cash from the sale of one of his major non-retail real estate assets: the Mango logistics centre, located in the Barcelona town of Lliçà d’Amunt.

This modern logistics complex, measuring 180,000 m2, is where the Catalan textile group stores all of the products from its hanging garment range for distribution to its stores and online. Inaugurated at the beginning of this year, the centre is expected to by fully operational by the beginning of 2017.

Moreover, the acquired property has the potential to be extended by another 80,000 m2 in terms of gross leasable area (GLA). Once it is complete, the Mango building will occupy a surface area of around 260,000 m2, comprising the logistics centre and office space.

Punta Na used to be the owner of this complex, as well as of the adjoining plots of land measuring 150,000 m2, on which VGP could construct 100,000 m2 of gross leasable space for use by other companies.

In total, the Belgian firm (which is headquartered in Brussels) will pay €150 million for the centre and the plots of land, according to a statement made today to the country’s stock market regulator.

Punta Na

Like other large fortunes, the founder of Mango, Isak Andic, has invested some of the profits obtained from the textile group into his real estate business. Through his property company Punta Na, Andic owns properties worth hundreds of millions of euros, including some premises leased to the textile company itself, as well as others leased to competitors, such as the Inditex group, in a similar fashion to Amancio Ortega and his real estate company, Pontegadea.

Until a few months ago, Punta Na did not employ any senior management personnel. Nevertheless, in November, the firm recruited Miquel Roig as its CEO, with the aim of professionalising the management of the company and making it grow.

The company’s plan involves using the funds obtained from the sale of the logistics assets to VGP to expand its portfolio of flagship retail premises, according to sources close to the company.

Last year, Punta Na earned €205,000 compared with €50 million the year before.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Mercadona Acquires Logistics Plot In Valencia For €24M

9 December 2016 – Expansión

The supermarket chain Mercadona is preparing to build a new logistics centre in Parc Sagunt, the largest industrial estate in the Community of Valencia, which is almost empty at the moment.

The firm has acquired a plot measuring 358,270 m2 for €24 million, on which it will construct a logistics block. The centre will not be used to supply the chain’s stores directly, like its existing centres, but will instead centralise the storage and distribution of products to the other logistics centres. It will be the first point of receipt for products that due to their nature require this kind of logistic management, for example, perishable goods, goods from the same supplier and goods imported through ports.

Sources at Mercadona explain that, for the time being, the definitive design for the centre and the total investment have not been defined.

The chain currently operates thirteen logistics centres and three satellite warehouses. In total, it has a surface area of 854,000 m2. In 2007, the company launched a strategy involving intelligent logistics centres, which kicked off with the construction of a centre in Ciempozuelos (Madrid) and was subsequently extended to include centres in Ribarroja (Valencia), Villadangos (León), Guadix (Granada) and Abrera (Barcelona). The final phases still need to be incorporated into this last block. Around €300 million has been invested to date.

In recent years, Mercadona has invested €700 million in its logistics platforms. It will open its next centre in Vitoria, whose first phase will be operational next year, following a €50 million investment.

Relief for Parc Sagunt

This operation was approved on Wednesday by the Board of Directors of Parc Sagunt, the property developer of the land that is jointly owned by the Generalitat Valenciana and the state owned company Sepi (50% each), which have invested €132 million. Mercadona’s arrival at the industrial estate represents a breath of fresh air for the space that had become something of a problem for the Administration. Even though the majority of the site has been completed since 2008, only three companies currently operate there and most of the land is still up for sale.

The plot that Mercadona has acquired is well known, given that in 2007, it was awarded to the Ros Casares group to open its major steel works Brava Steel, but that was never built. Now it has been sold for 41% less.

There are currently 26 other plots of land for sale and experts expect that, thanks to the arrival of Mercadona, demand for those plots will now increase, after years of paralysis.

Original story: Expansión (by J.B. and A.C.A)

Translation: Carmel Drake

ECI Puts Logistics Assets Worth c.€300M Up For Sale

10 August 2016 – Expansión

The distribution giant El Corte Inglés has engaged Morgan Stanley to find investors who may be interested in acquiring assets worth between €200 million and €300 million, according to real estate sources.

Specifically, the company chaired by Dimas Gimeno intends to divest 33 assets, which have a surface area spanning more than 500,000 sqm, as well as five plots of land.

The assets on the market include rental contracts guaranteed for five, ten, fifteen and twenty years; and the deadline for submitting non-binding offers will close at the end of September.

Sources consulted indicate that some of the warehouses included in the sale are not sufficiently tall enough to meet with current demands from investors for this type of asset, which has forced them to adjust the duration of their contracts, as well as the rental prices.

The batch for sale, which comprises 38 assets in total, including the plots of land, contains: El Corte Inglés’ logistics centres in Bisbal del Penedès (Tarragona) and on La Peluquera industrial estate in Madrid. It also includes other assets on Las Atalayas industrial estate (in Alicante) and the Goro en Telde estate (in Gran Canaria).

By contrast, El Corte Inglés has not included any assets currently considered to be strategic in the batch. Thus, for example, the jewel in its logistics assets crown will not be included: its mega centre in the south of Madrid.

Reduce debt

The company, which seeks to reduce its debt balance with these divestment operations, may consider selling other types of non-strategic real estate assets in the future, as Expansión revealed in March.

These real estate asset divestments follow others completed by El Corte Inglés in recent years. In this way, in the summer of 2013, the distribution group completed the sale of a building next to Plaza de Cataluña in Barcelona to the fund manager IBA Capital.

Months later, it sold another property to the same investor on Calle Preciados in Madrid.

Other divestments

Last December, the chain sold another building in the iconic Puerta del Sol in Madrid for €65 million to the US fund Thor Equities. At the time, the group agreed to continue to occupy the building, which houses its book store and is located in one of the most important shopping areas of the capital, for another year.

Similarly, in February, the group sold the building that it had acquired ten years ago on Calle Fontanella in Barcelona for €17 million to a Russian investor, which plans to convert the property into a hotel.

By contrast, El Corte Inglés has also completed several important asset purchases in recent years. In this way, the company acquired a plot of land from the railway infrastructure manager Adif, right on Paseo de la Castellana for €136 million in 2014. This plot of land is located next to one of the company’s main shopping centres in the capital, in Nuevos Ministerios.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake