Segro Closes 4 Operations and Plans to Invest €1 Billion in Spain

The British real estate company is planning to invest €1 billion in the Spanish market over the next few years. It has just closed 4 turnkey logistics operations and pre-rentals in Madrid and Barcelona, spanning 92,000 m2 in total.

The British real estate company Segro, which specialises in the management of logistics assets, is planning to invest €1 billion in the Spanish market over the next few years. It has just closed 4 turnkey logistics operations and pre-rentals in Madrid and Barcelona, spanning 92,000 m2 in total.

The company, which currently has a portfolio worth more than €400 million that spans 440,000 square metres in Spain, wants to increase its investment to €1 billion “in the medium to long-term”, according to the group. Furthermore, its objectives include expanding its portfolio by 200,000 square metres in three years, mainly in the Madrid and Barcelona markets.

Panettoni Makes its Debut in Spain with a Logistics Project in Guadalajara

The US company has purchased land from the investment fund Bain, a shareholder of Habitat Inmobiliaria, in Torija (Guadalajara) for its first project in the country.

The US company has purchased land from the investment fund Bain, a shareholder of Habitat Inmobiliaria, in Torija (Guadalajara) for its first project in the country.

On the plot, the company is planning the at-risk construction of an industrial park spanning more than 28,400 square metres, including 28 loading docks and more than 140 parking bays.

The Aragonese Group Bancalé Acquires 1,220 hectares of Land in Zaragoza

13 January 2020 – Heraldo

Bancalé has acquired the rural plots of land associated with the failed urban operation linked to the Plaza Logistics Platform in Zaragoza. The Aragonese investment group plans to use the plots for the development of a new agricultural line of business, as well as to grow its renewable energy division with the construction of a large photovoltaic solar plant on the site.

The plots are located between the La Peñaza golf course, the A2 motorway, the Centrovía industrial estate and the AVE railway tracks, and span 1,220 hectares in total.

The family office has reportedly paid more than €10 million for the land, which was previously owned by the US investment giant Blackstone.

Original story: Heraldo (by Jorge Alonso)

Translation/Summary: Carmel Drake

VGP Invests €22M in 2 Logistics Platforms in Cheste (Valencia)

15 May 2019 – Levante EMV

The Czech group VGP has announced that it is going to invest €22 million in the construction of two latest-generation logistics platforms on plots spanning 75,000 m2 in Cheste. The logistics platforms will span 15,000 m2 and 26,000 m2, respectively, and the projects are expected to create around 400 new jobs.

The logistics industrial estate in Cheste is enjoying a boom in recent times driven, in particular, by the Lidl logistics platform. It sits within the first logistics ring of Valencia and has direct access to the Manises airport, as well as to the Port of Valencia.

VGP will add these assets in Cheste to the other sites that it is already developing in Spain, including VGP Park San Fernando de Henares, VGP Park Lliçà d’Amunt, VGP Park Fuenlabrada and VGP Park Zaragoza, which together span 360,000 m2.

Original story: Levante EMV (by Ramón Ferrando)

Translation/Summary: Carmel Drake

Valencia’s Logistics Market will Incorporate 6+ New Platforms in 2019

14 May 2019 – Valencia Plaza

The logistics real estate sector in Valencia is on a roll. At least that is according to a study conducted by Triangle Real Estate Management, which highlights the plentiful supply in the province, in particular in the Riba-Roja and Cheste areas.

Construction is currently underway on three new logistics platforms, spanning 53,000 m2 in total, in the town of Riba-Roja, which are expected to be completed in Q3 2019. Moreover, work has already been finished this year on three other logistics properties in Paterna, Torrent and Loriguilla, with a combined surface area of 40,000 m2.

In addition, there are eight other projects in the pipeline to build turnkey properties, spanning a total surface area of 261,123 m2, which will be ready 9-12 months after they have been signed.

Stock of properties

On the other hand, the report details that the total stock of properties available for storage in the Valencia area spans a surface area of more than 2.5 million m2, of which 60% is located in the Valencia Logistics Corridor, comprising the municipalities of Riba-Roja, Loriguilla and Cheste. However, most of the available surface areas are “old, small properties”.

Land under development

The Valencian logistics market also has 6 million m2 of land available for development, in other words, land that is buildable and classified as industrial but pending the completion of one or more urban planning procedure. 75% of that land will be developed over the long-term, in other words, in more than 5 years time.

Rental prices

Market prices have risen in recent months due to the shortage of supply. Asking prices in the prime areas along the A-3 (Riba-Roja, Cheste, Loriguilla and Quart de Poblet) amount to €4.5/m2/month, compared with €4.25/m2/month in the area around the Ford Almussafes factory and €3.75/m2/month in secondary areas and places such as Sagunt.

Original story: Valencia Plaza (by Begoña Torres)

Translation/Summary: Carmel Drake

Vicasol Invests €26M in its Fourth Logistics Platform

22 April 2019 – Mis Oficinas

The cooperative Vicasol is investing €26 million in its new logistics platform. The facilities will be located in El Ejido (Almería) and will house an urbanised surface area spanning more than 125,000 m2.

This will be the cooperative’s fourth logistics centre as it already owns facilities in La Puebla de Vícar, La Mojonera and Níjar (all in the province of Almería).

The warehouse will have a surface area of 20,000 m2, with a semi-basement spanning another 20,000 m2 and a loft spanning 3,000 m2.

Original story: Mis Oficinas

Translation/Summary: Carmel Drake

Dadelos to Build a Logistics Platform in Sagunto with an Investment of €5M

16 January 2019 – Eje Prime

Dadelos is launching itself into the logistics sector in Valencia. The Valencian family group is going to build a logistics platform in Sagunto with an investment of €5 million.

The plot, which has a buildability of 13,200 m2, is located on the large format Camí la Mar I industrial and logistics park, very close to the Port of Sagunto and Parc Sagunt, an area where companies such as Inditex and Mercadona are already present.

Dadelos is going to carry out the construction of the project without having closed the future final user of the property in advance, as reported by the company in a statement. Similarly, the group stated that this operation forms part of its current expansion and diversification policy.

The new property, which will be twelve metres tall, will also have an area for office use. To carry out the transaction, Dadelos has been advised by Olivares Consultores, which confirmed that it is a strategic operation “at a time of strong growth and high demand for spaces by logistics companies in the area”.

Original story: Eje Prime

Translation: Carmel Drake

Grupo Lar Purchases 36,000 m2 of Logistics Land in Valencia

17 December 2018 – Eje Prime

Grupo Lar is starting to expand in the Spanish logistics sector. The company has completed the purchase of 36,000 m2 of logistics land in the municipality of Quart de Poblet, in Valencia with the aim of constructing two warehouses and an additional block of offices.

The two logistics centres will have surface areas of 5,000 m2 and 17,000 m2, respectively. Meanwhile, the office building will span approximately 1,300 m2. The building work is expected to start during the second quarter of 2019 and finish during the first quarter of 2020.

The land is located close to the Riba-roja logistics hub, 15km from Valencia and 10km from the Manises airport. Moreover, its proximity to the city’s main arteries gives it a privileged position when it comes to moving goods.

Currently, Grupo Lar is working on an expansion plan for its logistics platform with Madrid, Barcelona, Valencia, Málaga, Sevilla and País Vasco all in the spotlight. The company plans to invest €250 million between now and 2021 in the acquisition of 500,000 m2 of industrial land.

Original story: Eje Prime 

Translation: Carmel Drake

Inbisa Sells a Logistics Platform in Guadalajara for €13M

3 December 2018 – Press Release

INBISA Inmobiliaria, a leading property developer at the national level, has closed the sale of a logistics platform located in Cabanillas del Campo (Guadalajara) to an investor managed by the Real Estate & Private Markets division of UBS for more than €13 million, as part of its plan to renew its logistics portfolio.

With a surface area of 20,390 m2, the asset is characterised by its flexibility and versatility since its structure is divisible into 8 modules measuring 2,420 m2 per floor and 137 m2 on the mezzanine floor.

The building whose sale has been advised by the real estate consultancy CBRE is dedicated to the storage and distribution of goods (…).

The plot, located in the SI-21 sector of Cabanillas del Campo, spans 30,800 m2 on which the construction division of Grupo Inbisa built the warehouse and obtained the first occupancy licence in April 2009 (…).

The logistics centre has served as the operational headquarters of several leading companies in the sector including the giant Luís Simões, as well as of FM Logistics Iberia, which will continue with its lease contract following the sale (…).

Original story: Press Release

Translation: Carmel Drake

Zambal Approves Merger with Iberia Nora & Completes €80M Capital Increase

12 September 2018 – Eje Prime

Zambal has approved its merger with Iberia Nora and has given the green light to its capital increase. Following the General Shareholders’ Meeting, the company managed by IBA Capital has notified the Alternative Investment Market (MAB) that it is going to carry out its integration with the other Socimi, which specialises in the rental of real estate assets.

In addition, Zambal has confirmed the €80 million capital increase that it announced in July. It will conduct it through the issue of 80 million shares with a nominal value of €1 and an issue premium of €0.25, which “will be fully subscribed and paid up through the compensation of loans”.

The capital increase has been fully subscribed by the Socimi’s majority shareholder, Altaya, headquartered in Singapore, which owns 95.21% of the share capital. Of the remaining 4.79%, 4.40% corresponds to Loire Investments Pte. Ltd, also domiciled in Singapore and 0.39% is treasury stock.

The Socimi, which started life in 2013, is an investment vehicle managed externally by IBA Capital Partners. The company specialises in the investment, and subsequent management, of offices and retail assets in cities such as Madrid and Barcelona, although the company also considers other assets such as nursing homes for the elderly, hospitals, retail parks and logistics platforms.

In a recent operation, Zambal purchased two office buildings on Calle Albarracín in Madrid, leased to the French multi-national firm Atos. That operation involved an investment of €38 million.

Without resorting to bank financing, Zambal has constructed a portfolio worth more than €730 million. Some of the company’s other main assets include, for example, the property at number 77 Avenida San Luis (which is home to Gas Natural’s headquarters in Madrid); the Edificio Vodafone, on Avenida de América; and the building at number 118 Avenida Burgos, which is leased in its entirety to BMW.

Original story: Eje Prime

Translation: Carmel Drake