Tag: logistics warehouse

Invesco Invests €80M in Madrid Logistics Park to be Built by Pavasal

19 March 2018 – Expansión

The Valencian construction company Pavasal and the investment fund manager Invesco have reached an agreement to develop the largest available area of logistics space for rent in the city of Madrid, with an investment of €80 million.

The project will involve the construction, by Pavasal, of a logistics park spanning 90,000 m2, just 8km from the centre of the Spanish capital, which Invesco will subsequently purchase. The operation has been advised by the consultancy firm BNP Paribas Real Estate.

The Madrid M-40 Logistics Park (PAL-40), which is going to be located alongside the M-40, will be built in two phases. The first phase will involve the construction of a building measuring more than 45,000 m2. This property may be leased in modules upwards of 2,500 m2 to several tenants or be occupied by a single logistics operator.

Work on the first phase is scheduled to begin during the second half of 2018 and the keys are expected to be handed over during the third quarter of next year.

Meanwhile, the second phase of the project will include another 45,000 m2 of logistics space, which may be used for turn-key projects adapted to the needs of operators.

Last mile delivery

The park is going to be constructed on the basis of a ratio of more than 2,000 delivery operations per day and will optimise delivery times thanks to its location with respect to the large population nuclei and logistics activity centres. Moreover, it will receive an energy efficiency certificate, according to those responsible for the project.

Specifically, the platform will have a 336-metre long façade overlooking the motorway and will be accessible by vehicle from Avenida de Andalucía, which the logistics sector call the last mile.

In this way, the new logistics park is going to be located less than 8km from Puerta del Sol, close to the Atocha AVE station and 19km from the airport.

The logistics sector was one of the segments that performed the best last year, as shown by the large volume of land that was bought and sold thanks to the growing demand for logistics space by companies dedicated to e-commerce.

Thus, the level of uptake in the sector in the market of Madrid and its area of influence reached historical highs in 2017, with 886,405 m2 of space leased, according to data compiled by BNP Paribas Real Estate.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

CV-Grupo Acquires Logistics Plot in San Fernando de Henares (Madrid)

16 March 2018 – Inmodiario

The Valencian firm CV-Grupo has purchased a plot measuring 12,500 m2 in San Fernando de Henares (Madrid) on the Puerta de Madrid industrial estate, alongside Amazon and other large companies, where it is going to construct a logistics warehouse.

In this way, CV-Grupo is expanding its land in Madrid. The Valencian property developer is led by Salvador Vila and specialises in the construction and promotion of assets in the logistics and industrial sectors. The firm has purchased the plot in Madrid in order to expand its portfolio of industrial properties through the promotion of a logistical warehouse. Its portfolio now spans a surface area of more than 200,000 m2, including the assets in Valencia and Madrid.

The acquired space is located on the A-2 highway, in the heart of the Henares corridor, in the town of San Fernando de Henares, on the industrial estate known as Puerta de Madrid (…).

The asset will allow CV-Grupo to develop a logistics warehouse measuring 8,500 m2 on the Puerta de Madrid industrial estate, by the A-2 and M-45 highways, one of the most sought-after in the sector in the Spanish capital. There, its neighbours will include, amongst others, multinational firms such as Amazon, Tdn, XPO and Plaza supermarkets. This industrial estate is considered as one of the fastest growing and best located in the Community of Madrid.

CV-Grupo began its activity in Madrid in 2000 in the Corredor de Henares, where it undertook developments in Coslada, San Fernando and Torrejón de Ardoz (…).

The construction work on this site, which is due to start in the second quarter of the year, will be completed before the end of the year (…).

Original story: Inmodiario 

Translation: Carmel Drake

Baraka Invests €40M in Another Logistics Asset

13 March 2018 – Expansión

Grupo Baraka, the corporate holding company chaired by the Murcian businessman Trinitario Casanova, is maintaining its commitment to the logistics sector. After purchasing a plot spanning more than 30,000 m2 in Barcelona from Consum in February for the construction of a logistics warehouse, the company has now acquired 95,600 m2 of industrial land in Alcalá de Henares (Madrid) on which it is going to construct a logistics platform.

Grupo Baraka plans to invest around €40 million in the project, including the acquisition of the plot and the commissioning of the logistics platform, which is expected to be ready within eight months and which will occupy a surface area of 45,000 m2, according to explanations provided by the company yesterday.

Specifically, the land acquired by the real estate group is located on the El Encín industrial estate, where the US multinational Owens Corning used to operate a factory, until two years ago.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

Rockspring Leases 29,000 m2 Warehouse in Barcelona to Mercadona

5 February 2018 – Eje Prime

Mercadona is increasing its commitment to the logistics sector. The Valencian food group, which was very active last year, especially in its own autonomous region, has signed a rental agreement with Rockspring to lease a logistics warehouse measuring 29,000 m2 on the outskirts of Barcelona.

Mercadona is going to move into a logistics park in Sant Esteve de Sesrovires that was promoted by the investment fund manager Rockspring and the Goodman group, and which was inaugurated last March.

The asset has granted a Breeam certificate, which guarantees the sustainability of the warehouse and that its construction was undertaken in accordance with respect for the environment. According to Business Inmo, the property will be occupied in its entirety by the Spanish food distribution company.

This operation strengthens the commitment of the company led by Juan Roig to extend and renew its logistics portfolio. A few days ago, the group announced that it is going to invest €80 million on the expansion of its technological centre in Valencia. Also in its home region, last October, Mercadona signed the purchase of the largest plot in Parc Sagunt, after acquiring a logistics space measuring 358,270 m2.

Original story: Eje Prime 

Translation: Carmel Drake

Segro Acquires 2 Logistics Plots in Madrid & Barcelona

16 January 2018 – Press release

Segro, the British investment fund specialising in the logistics sector, is increasing its presence in Spain with two new acquisitions in Getafe (Madrid) and Sant Esteve de Sesrovires (Barcelona). Both assets were acquired in December 2017.

On the one hand, Segro has announced the acquisition of a plot of land measuring 8 hectares in Getafe for the construction of a logistics warehouse measuring 46,000m2. That land is strategically located in the Puerta Mayor-Los Gavilanes Business and Logistics Park, a relatively new location 14km to the south of Madrid, alongside the A4 Madrid-Andalucía highway and with direct access to the M-50.

That logistically strategic area is home to several large multinational companies, such as Decathlon, CostCo and Amazon, but suffers from a relative shortage of buildings measuring more than 40,000 m2 in the market in Madrid, despite the high demand for large units this year. Work to build the logistics warehouse will begin during the first half of the year in response to this market need.

On the other hand, Segro has acquired a new asset in Sant Esteve Sesrovires. That plot comprises 8 hectares and is located 35km away from Barcelona’s city centre. Sant Esteve Sesrovires is located between the A2 and A7 highways, which run from Barcelona to Madrid and represents a strategic communication hub. Barcelona is an area with a shortage of modern, high-quality warehouses, and for this reason, Segro will proceed to construct a 51,000 m2 property (…).

Whilst the construction and financing of the project will be completed over 2 phases during 2018/2019, work on the first phase spanning 29,000 m2 will start at the beginning of Q1 2018. This project coincides with the construction of a 20,000 m2 warehouse that the firm is working on in Martorelles, which will be completed in the summer and available for rent thereafter (…).

With these two new acquisitions, Segro, in its commitment to expand its presence in Spain, is positioning itself as one of the important investors in the Spanish logistics market with a portfolio spanning 255,000 m2. Segro is continuing to focus on high-quality buildings and prioritise strategic locations to create a privileged portfolio of warehouses for distribution and urban logistics, creating high added-value spaces for large companies and SMEs alike.

About Segro

Segro is a British Listed Real Estate Investment Company (Socimi) and European market leader in the management, promotion and construction of logistics and industrial assets. Segro owns and manages a portfolio of properties spanning 6.3 million m2, with a market value of GBP 8 billion, providing services to various clients in the logistics and industrial sector. Its parks are located in the main distribution and transport hubs of the countries in which it has a presence. It owns some of the best logistics parks and transport centres in Europe.

Segro enjoyed a record year in 2016 and according to its provisional results for 2017, the company recorded a 3.9% increase in its net rental income. Moreover, it signed rental contracts worth GBP 27.5 million (around €30.8 million), up by 28% compared to the same period in 2016 (…).

Original story: Press release

Translation: Carmel Drake

Neinver Acquires 40,000m2 Plot In Getafe To Build Logistics Warehouse

31 October 2017 – Observatorio Inmobiliario

Neinver has acquired 40,000 m2 of industrial land on the Carpetania Industrial Estate in Getafe (Madrid), where it plans to build an industrial warehouse with a GLA (Gross Leasable Area) of 24,000 m2. This project, which involves an investment of approximately €16 million, reflects the company’s commitment to logistics development; since its creation, the firm has now built more than 2 million m2 of logistics assets.

Currently, Neinver is one of the main property developers, managers and investors in the southern part of the Community of Madrid, with more than 70,000 m2 of GLA under management in the Getafe area.

According to Juan Carlos Ortega, Director of Industrial and Logistics at Neinver, “with this operation, Neinver is strengthening its position as a developer of logistics projects in the Spanish market. Besides managing a portfolio spanning half a million m2, the development of a new warehouse in a location as strategic as Carpetania, reflects the company’s commitment to this sector, so rooted in the origins of Neinver”.

This operation comes after Neinver acquired two other logistics assets in Barcelona and Pamplona, with a combined constructed surface area of 15,000 m2, in February of this year, through Colver, its joint venture with Colony Northstar.

In total, Neinver currently manages a portfolio of 500,000 m2 in terms of logistics and industrial surface area, corresponding to a gross asset value (GAV) of €300 million.

Original story: Observatorio Inmobiliario

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

CBRE: 57% More Logistics Space Leased In Madrid During First 9 Months Of 2017

9 October 2017 – Eje Prime

Demand for logistics space in Madrid is soaring. During the first nine months of the year, 633,000 m2 of logistics space was leased, which represented an increase in demand of 57% with respect to the same period last year, according to data from CBRE. This rise in the volume leased was due not only to an increase in the number of transactions closed but also due to a rise in the number of transactions involving large surface areas.

233,000 m2 of logistics space was leased between July and September this year, of which 173,000 m2 (or 74%) related to the e-commerce sector. The most important operations carried out during the third quarter included the turnkey project in Illescas, with a surface area of 103,000 m2; the Leroy Merlin operation in Meco, spanning 59,814 m2; and the CEVA deal in Seseña, with a total surface area of 12,000 m2. In terms of the prime rent in the local distribution area, it remained at €5.25/m2/month.

In Barcelona, demand also remained very high and the lack of available spaces in the first and second ring alone, where the vacancy rate is just 0.5% and 1.6%, respectively, prevented the volume of new space leased from continuing at record levels, in line with the last two years.

In this sense, 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, 57% less than during the same period in 2016. The most important operation during the quarter was the rental by Naeko of a logistics warehouse with a surface area of 20,000 m2 in La Bisbal del Penedès.

In terms of prices, prime rent continued at €6,50/m2/month in the Catalan capital, although that figure is expected to rise over the next few months, due to the stark lack of available space.

Original story: Eje Prime

Translation: Carmel Drake

Nuñez I Navarro Restores Former Panrico Factory In Barcelona

25 September 2017 – Mis Naves

The former Panrico factory, the company’s distribution centre for the whole of Barcelona, is coming back to life. Núñez I Navarro has recovered the building and has restored it for industrial use.

The building is distributed over five floors: two are allocated for parking, two for industrial use and one floor for offices and a terrace. To cover logistics needs, it has two hoists, loading docks, two lifts, storerooms and 136 parking spaces. Moreover, it also offers open plan spaces with several bathrooms and changing rooms on each floor, as well as fire detectors, concrete floors and a stone floor on the second level.

The property is located in Calle Binéfar in Barcelona, in the Sant Martí district of the city, and is equipped with all of the facilities of a large conurbation: restaurants, shops, supermarkets, sports facilities and schools, as well as excellent transport connections with the rest of the city by metro (La Pau, L2 and L4) and bus (Lines 33, 36,143, B23 and H10). Moreover, the site is also accessible from the Ronda Litoral (exit 24) and is just two minutes from Rambla Prim.

Altogether, the property has a total surface area of 14,857 m2, although its distribution means that the property could be divided into two completely independent and identical buildings. As such, in the event that a smaller surface area was required, two spaces measuring around 7,500 m2 each could be created. For the Marketing Director at Núñez I Navarro, Daniel Zafra, the building “represents an excellent opportunity for companies with logistics requirements that typically find themselves outside of the urban nucleus and which can now enjoy the benefits of a city such as Barcelona”.

Original story: Mis Naves

Translation: Carmel Drake

Meridia Buys Assets In Madrid & Toledo For €40M

25 July 2017 – Expansión

The fund manager Meridia Capital will invest €40 million on the purchase and refurbishment of two office buildings in Madrid and a logistics warehouse in Seseña (Toledo), according to a statement issued by the company.

The logistics platform in Seseña, acquired by one of the funds of the manager, Meridia II, occupies a surface area of 40,000 m2. One of the office buildings in Madrid, which has a surface area of 4,000 m2 and 70 parking spaces, has been acquired by Meridia II and the other one, which spans 8,300 m2 and has 140 parking spaces, has been purchased by Meridia III.

The CEO of Meridia Capital, Javier Faus (pictured above) explained that the Spanish market for value added assets offers “great opportunities”. He also added that the manager expects to invest the remaining capital from its specialist funds (Meridia I, Meridia II and Meridia III) in the hotel and real estate sector over the next 12 to 18 months.

Original story: Expansión

Translation: Carmel Drake