Tag: logistics use

Trinitario Casanova Invests €15M in a Logistics Platform in Barcelona

21 February 2017 – Expansión

Through the Baraka Group, the Murcian businessman has purchased a plot of land measuring more than 30,000 m2 from Consum, where it is going to build a logistics warehouse.

The construction group Baraka, controlled by the well-known businessman Trinitario Casanova, has completed the purchase of a plot of land dedicated to logistics-industrial use, located in the municipality of Sant Esteve Sesrovires, in Barcelona.

The land, owned until now by the Consum group, spans 30,665 m3; and Baraka is going to build a 19,213 m2 complex on the site, split into modules of around 6,000 m2, with the aim of leasing them to three operators, said the company. Currently, Baraka is negotiating with two companies interested in the project, say sources at the group, speaking to Expansión.

Sources at the company highlight the location of the future platform in the “strategic enclave of the Can Estella industrial estate, located next to the A-2 and AP-7 motorways, which connect the Mediterranean Arc with Barcelona, the main traffic route from Europe through the Mediterranean and Pyrenees, with Madrid”.

In total, Baraka is going to invest €15 million in this project.

In parallel to this industrial project, Baraka is working on the marketing of the commercial area of Edificio España, the property that it acquired last June from the Chinese Wanda Group, only to immediately sell it onto RIU Hotels.

In addition to the Edificio España operation, Casanova acquired a building on c/Preciados 13, also in Madrid, as well as the adjacent building, which houses the Carlos V Hotel. In the case of c/Preciados 13, Baraka has teamed up with the real estate group Hines, which is acting as the financial partner, whilst the Spanish firm is taking care of the building work and the search for a new tenant.

Original story: Expansión (by Rocío Ruiz)

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