Aragón Sells 555,000 m2 of Logistics Space in 2 Years

15 January 2018 – Inmodiario

The Government of Aragón has sold almost 555,000 m2 of space in Plaza (Zaragoza), Platea (Teruel), Plhus (Huesca) and the Fraga Logistics Platform since the beginning of this legislature.

In the ‘Parque Empresarial Dinamiza’ (the Dinamiza Business Park), from Expo Zaragoza Empresarial, more than 8,900 m2 has been leased during that time. The return to intense activity in terms of their management, their unification under the single ‘Aragón Plataforma Logística’ (‘Aragón Logistics Platform’ or APL) brand and the sales boost have managed to relaunch sales and invigorate the receipt of revenues in the public coffers.

In terms of the marketing of the Aragonese platforms, 355,000 m2 of space has been sold in Plaza over the last two years, which brings the occupancy rate of that Zaragoza-based platform to its current level of 83%. More than 350 companies work in the ‘Plataforma Logísitica de Zaragoza’ (Plaza) and it has become an international benchmark in terms of intermodal connections and high quality.

Meanwhile, the ‘Plataforma de Huesca’ (Plhus) has sold more than 22,100 m2 of space in the last two years, has formalised purchase options for another 3,448m2, and has leased 2,170 m2 of warehouses and plots. Some of the companies that have acquired plots in the last two years include Transportes Callizo, Hierros Alfonso, Audi Seat and Montajes Industriales del Alto Gállego (MIAG). The installations have also witnessed the creation of Gaypu and the manufacturing activity of Pastelerías Ascaso, amongst others.

In the Teruel-based platform, Platea, almost 48,000 m2 of space has been sold over the last two years, purchase options have been signed for almost 45,000 m2 and 4,353 m2 has been leased.

With the purchase by the multinational firm Röchling and the launch of the Ronal Ibérica plant, amongst others, Platea is now a key centre of activity for the automotive auxiliary sector, although the agro-alimentary sector also has a notable presence at the platform. This week, Jamones Albarracín announced that it has purchased plots in the Teruel platform (…).

‘Aragón Plataforma Logística’ was launched in 2017. The President of Aragón himself, Javier Lambán, backed its creation as “a single brand to attract more companies, which will contribute decisively to making logistics a fundamental factor in the economic consolidation of the European market”.

The 500 companies located in the logistics platforms and business park of Expo Zaragoza Empresarial, which form part of APL, employ more than 16,000 people (…). The Government of Aragón regards logistics as a strategic sector in terms of the Executive’s policies (…).

Original story: Inmodiario

Translation: Carmel Drake

Lar To Build Its 6th Spanish Logistics Park In Cheste (Valencia)

17 October 2017 – Eje Prime

Lar España is putting its foot down on the accelerator. The Socimi is finalising plans for a new logistics park in Cheste (Valencia), the sixth industrial project to be undertaken by the firm in Spain. The firm has already created a company to manage the complex, which spans a leasable surface area of 122,000 m2. Now, planning permission just needs to be granted for the site so that the construction work can begin.

The project has already been granted environmental approval, according to El Español, and will be located in one of the most important enclaves for the logistics sector in Valencia, a short distance from the major distribution centre in Ribaroja on the Ciudad Circuito industrial estate. The forecast investment in this new logistics park will amount to almost €16 million.

In addition to logistics activities, the site will also be kitted out for cross-docking and will allow the entry of mega-trucks.

The company created for this asset is called Lar España Inversión Logísitic VI, which will be led by Miguel Pereda, a proprietary director of the Socimi, whilst Jon Armentia, Corporate Director of Lar España, will perform the role of Vice-President.

The project in Cheste represents the company’s sixth logistics investment, given that it already owns one complex in Valencia, in Almussafes, and four in Guadalajara (Alovera), worth €77 million in total.

In Spain, 80,000 m2 of logistics space was leased during the third quarter of 2017, down by 29% compared to the previous quarter (112,000 m2). In terms of the cumulative figure for the half year, more than 317,000 m2 of space was leased, down by 57% compared to the same period last year.

Original story: Eje Prime

Translation: Carmel Drake

Axiare Acquires 2nd Phase Of Logistics Project In San Fernando De Henares

3 July 2017 – Observatorio Inmobiliario

Axiare Patrimonio has completed the acquisition of the second phase of its logistics park in San Fernando de Henares (Madrid) after having pre-leased a significant part of the first phase, which it acquired just one year ago.

This latest acquisition represents the culmination of a pre-agreement reached in 2016, during the purchase of the first phase of the project, for which the Socimi reserved the right to develop a second, turn-key, phase.

The CEO of Axiare Patrimonio, Luis López de Herrera-Oria, stated that “this operation shows once again our capacity to act outside of the market, acquiring assets with great potential in complex operations. We continue to faithfully fulfil our business plan, with the ultimate objective of maximising value for our shareholders”.

The Socimi has invested €38 million in the acquisition of this second phase. This new investment will add two new logistics warehouses, with a gross leasable area of 60,000 m2, to the three already planned for the first phase of the project, all integrated within the same logistics complex. The handover of this second turnkey phase is scheduled for the second half of 2018.

In total, Axiare Patrimonio will invest €81 million in the development of the two phases of this logistics park, which is located in the first ring of Madrid, in the best area of the Corredor de Henares. It is one of the most important logistics centres in the country, located just 10km from the airport and 18km from the city centre. High-profile first-rate tenants, such as Amazon, TNT and XPO, also have their logistics centres close to this site.

The technical specifications of the new warehouses will be identical to those constructed during the first phase, which means that they will be high-quality facilities, with LEED environmental certificates.

With this off-market operation, Axiare Patrimonio has invested €195 million in the acquisition of five properties in line with its investment strategy.

The project will be developed by Grupo Barral, a company specialising in the logistics sector.

Original story: Observatorio Inmobiliario

Translation: Carmel Drake

Axiare Leases 2 Industrial Warehouses In Madrid To Transaher

16 May 2017 – Inmodiario

Axiare Patrimonio Socimi SA has leased a total surface area of 42,000 m2 to the company Transaher. This is the first turnkey project measuring more than 30,000 m2 to have been constructed in the first (logistics) ring of Madrid since 2010.

Cushman & Wakefield, the global leader in real estate services, has advised the Socimi on this operation, which includes a logistics warehouse measuring 26,500 m2 and a cross-docking building covering 16,300 m2. The latter will also include a surface area for office use, where Transaher will establish its main headquarters.

Both buildings will be constructed with Class A specifications for logistics operators and will have a Gold LEED certification.

“We think that this is a very important operation for the owner of the project, because it has managed to close a turnkey operation spanning more than 40,000 m2, as well as for the tenant, which is going to have some new flagsgip facilities, with very high-quality standards. In this sense, the efficiency of the project will be maximised”, explained Guillermo García-Almuzara Rodríguez, Director of Logistics & Industrial at Cushman & Wakefield Spain.

“Transaher is a logistics company that is continuously expanding and through this project, we will boost our two business lines: Transport in the cross-docking building, and Logistics. By having two buildings in the same park, we will be able to strengthen the Same-day and home-delivery services to Logistics clients, as well as significantly extend the cut-off times for warehouse orders, by increasing the synergy with transport. Moreover, the location is exceptional in terms of connections, which will positively influence distribution”, said Mª Luz Cobos, Director General of the Transaher Group.

Completion in 2018

The development of Axiare’s logistics park in San Fernando de Henares spans more than 70,000 m2, of which 60% is already leased. The park is home to another logistics building, measuring 28,000 m2, which is configured to deal with demand for spaces of 5,000 m2 upwards. Completion of the warehouses is scheduled for H1 2018.

“We think that the San Fernando park is going to be a role model, both in terms of the quality and versatility of the building, as well as its magnificent location and environmental features, given that it will benefit from a Gold LEED energy rating”, added García-Almuzara.

Original story: Inmodiario

Translation: Carmel Drake

P3 Acquires 11 Logistics Assets From Gore Spain For €243M

10 April 2017 – P3 Press Release

Pan-European logistics property investor-developer P3 has started its latest phase of expansion with the acquisition of a 322,500 mportfolio of 11 logistics and distribution warehouses in Spain from Gore Spain Holdings SOCIMI I, S.A.U. The purchase price was agreed at €243.35 million.

The portfolio includes assets in key strategic logistics locations around Madrid, Zaragoza, Toledo and Guadalajara as well as the coastal cities of Valencia in the east and Biscay (near Bilbao) in the north.

The purchase, which comes shortly after P3 announced a record performance across Europe in 2016, takes P3’s asset base in Spain from just over 70,000 m2 to nearly 400,000 m2 and is one of the largest portfolio transactions in Spain in recent years.

David Marquina, P3’s Managing Director in Spain, said: “This is a good opportunity to reinforce our footprint in Spain’s central logistics corridor, which connects Madrid, Zaragoza and Barcelona. Our next target is to increase our presence in the Mediterranean corridor, around Barcelona & Valencia and expand to Málaga. We will be focusing on acquiring institutional-quality logistics assets and off-market deals, where P3’s long-term investor-developer approach can make a real difference.

“There are several Build-to-Suit projects and single asset acquisitions in the pipeline, which will allow us to grow to 500,000 m2 of high quality, well-located logistics space under management in Spain before year end.”

The properties range in size from just over 7,500 m² in the Getafe area of Madrid to over 80,000 m² in Zaragoza. They are all fully let to blue chip domestic and international companies including DHL, which is also a P3 customer on seven other parks in four countries, Orangina Schweppes Espana and the office products retailer Staples.

In addition to the built assets, two of the warehouses have adjacent land totalling over 26,000 m², with potential for P3 to develop.

Commenting on the purchase, P3 CEO Ian Worboys said: “The Spanish economy is expanding and we identified the country as a key target for P3 in 2017. We’re delighted to have been able to acquire this portfolio which makes us one of the leading players in Spain and is in line with our growth strategy across Europe as a leading property investor-developer.”

P3 was advised on the purchase by CBRE, legal consulting was provided by Herbert Smith Freehills (HSF).

Original story: P3 Press Release

Edited by: Carmel Drake

Lar Buys 200,000 m2 Plot In Cheste To Build Logistics Park

13 February 2017 – El Mundo

It has not even been built yet, but the Ciudad Circuito de Cheste industrial estate is already making its name as an important logistics hub in Valencia. Lidl, which has already announced that it is going to build a new logistics platform here, is now going to be joined by Lar España. The Socimi has acquired around 200,000 m2 of land in the municipality of Cheste, next to the A-3 motorway and just 5km from the intersection with the Mediterranean Highway, on which it plans to build a new logistics park, .

The land acquired by Lar España is located just a few metres from the Circuito Ricardo Tormo, a strategic point in the region of Valencia, given that it is the junction where the roads to the centre and south of the Peninsula meet. In addition, it is just 17 km from Manises Airport and around 30 km from the Port of Valencia, which has become the main entry and exit port for goods.

The operation by Lar España is independent of the one already announced by the German retailer although both were signed on Wednesday 25 January 2017, according to confirmations yesterday from a municipal source. Lidl’s logistics platform is going to occupy a surface area covering 120,000 m2 and with Lar’s purchase, one third of the industrial estate, whose total surface area will amount to 900,000 m2, has already been occupied, before the development of the site has even begun. (…).

Original story: El Mundo (by Francisco Álvarez)

Translation: Carmel Drake

Rockspring Buys Montepino Casablanca Logistics Park

17 March 2016 – Mis Naves

Inversiones Montepino and Rockspring have reached an agreement for the sale and purchase of the new Montepino Casablanca logistics park, in a deal advised by ProEquity.

On Friday 11 March 2016, the sale agreement was signed for the new logistics park located in the town of Torrejón de Ardoz. Construction of the site has just been completed. The transaction, advised by the consultancy ProEquity, involves the acquisition, by one of Rockspring’s funds, of a site with a total constructed surface are of almost 50,000m2.

The asset, constructed on a site measuring 85,000 m2 and spread across two buildings, measuring 27,000 m2 and 21,000 m2, respectively, has been built to the highest quality standards and has received the LEED Green Silver Certificate, which will have a major impact in areas such as energy consumption efficiency and improving the quality of the internal environment.

This deal involves the first development of its kind in Madrid since 2007 and forms part of Rockspring’s commitment to become one of the major players in the logistics real estate sector, alongside the launch of the new 60,000 m2 project in Puerta Mayor “Los Gavilanes” in Getafe, which has just been put on the market.

Original story: Mis Naves

Translation: Carmel Drake

Saba Sells Toulouse Logistics Park To CBRE For €23M

18 September 2015 – Expansión

The group is focusing on its car parks / The company has sold a logistics park in Toulouse for €23 million.

Saba is continuing to take steps to exit the logistics sector and focus its activity on its core car park business. Yesterday, the group led by Salvador Alemany announced the sale of a logistics park in Toulouse (France) to CBRE Global Investors for €23 million.

The asset has a surface area of 20 hectares and was one of the company’s key sites, thanks to its strategic location in the neighbouring country, 30 kilometres away from the French city, one of the centres of the global aviation industry.

This divestment whereby reduces the group’s international presence to Lisbon, where it owns a site with a surface area of 100 hectares. The economic crisis in Spain has been more intense than in Spain and the demand for logistics space is not as great as in the areas close to the cities of Madrid and Barcelona.

In 2012, Saba began its exit from this business segment with the sale of a logistics park in Chile for €56 million, a deal that allowed it to begin its policy of shareholder remuneration.

In Spain, Saba is about to sell its 32% stake in Cilsa, the company that operates the Logistics Activities Area (ZAL) in Barcelona, measuring 208 hectares and located in one of the best areas of the Catalan capital. It is the last major logistics asset that Saba still owns.

The Competition Commission is studying Saba’s exit from this company; its stake is due to be acquired by Merlin. One of the unresolved questions is whether Sepes will hold onto its 5% stake in Cilsa – which does not even entitle it to sit on the Board of Directors – or whether Merlin will acquire the whole package.


In Spain, Saba – which is controlled by Criteria CaixaHolding – last year sold a logistics park in Coslada (Madrid), some land in San Fernando and a logistics park in Penedés (Barcelona), in a deal worth €100 million.

The firm has continued to withdraw from its logistics business, whilst at the same time closing operations that have enabled it to make important in-roads into the car park sector, with new contracts at Adif train stations, Aena airports and with the Town Hall of Barcelona.

Saba generated revenues of €215 million in 2014 – the logistics division accounted for 19% of sales and car parks accounted for the remainder. In Spain, Saba still owns logistics assets in the provinces of Barcelona, Álava and Sevilla.

Original story: Expansión (by A. Zanón)

Translation: Carmel Drake