Saltoki & Volvo Both Finalise Multi-Million Euro Investments in Valencia

1 March 2019 – Levante EMV

The Basque company Saltoki, dedicated to the distribution of plumbing and electrical equipment, is going to make an investment of between €20 million and €25 million in the Vara de Quart industrial estate, where it will create a large logistics centre, to take advantage of the proximity of the new facilities to the city of Valencia and its port. It is expected that 200 jobs will be generated thanks to this new infrastructure. Moreover (…), the automobile firm Volvo, is going to construct a large dealership in a new unique building that will be located in Campanar (…). The intention is that this large motor centre will open its doors at the end of 2019 (…).

Saltoki was created in 1978 and has 60 points of sale for plumbing and electrical equipment around Spain, as well as another four logistics centres. The Basque group inaugurated its first establishment in Valencia on 25 June 2018, in the town of Aldaia. That property is a large warehouse spanning 3,400 m2, which is located at number 15 Avenida Ovidi Montllor.

In terms of Volvo, the Swedish brand wants to reproduce in Valencia the experience that it has created in Aoyama (Tokyo) and Milan, where it has launched Volvo Studio Stores. There, the firm is offering a new dealership concept that has a cafeteria and which hosts a variety of events designed “to present the Swedish culture and philosophy of the Volvo brand to a wider audience”, according to the premium brand (…).

Original story: Levante EMV (by Josep Bartual Roig)

Translation: Carmel Drake

Drago Leases 1,300m2 of Office Space in San Fernando to Mitsubishi

28 February 2019 – Eje Prime

More engineering in San Fernando. The Madrilenian business park has signed the rental of 1,300 m2 of offices to Mitsubishi Electric. The operation has been closed just a month after Indra leased another 2,500 m2 in the business park for its subsidiary Prointec (…).

Mitsubishi Electric has signed a five-year contract to lease offices in the complex’s Europa building. The space in San Fernando is also going to house a training centre and a showroom. Savills Aguirre Newman has brokered the operation and its Savills Arquitectura department is going to take responsibility for the plans and implementation work.

Mitsubishi also has offices in Barcelona, located in the town of Sant Cugat del Vallès and regional offices in Sevilla, Vitoria, Palma, Bilbao, Valencia and Málaga.

With these operations, the San Fernando Business Park has absorbed almost 4,000 m2 of leasable office surface area, which represents 10% of the total office surface area leased in the Corredor de Henares area during 2018.

The park, located in San Fernando de Henares, was constructed in 1992 and expanded in 2009. Currently, it comprises a gross leasable area of 86,000 m2 and is home to giants such as Coca Cola, Volvo, Baxter and Continental.

In total, the complex has sixty tenants distributed across thirteen buildings. The park is located at the southern end of the Corredor de Henares, the capital’s main logistics and industrial axis.

The San Fernando Business Park changed hands in June 2018 when Oaktree Credit sold it for €120 million three years after acquiring it. Since July 2018, the park has been managed by Drago.

Original story: Eje Prime (by Roger Arnau)

Translation: Carmel Drake

Meridia Capital Acquires Logistics Platform in Guadalajara for €10M

8 March 2018 – Eje Prime

Meridia Capital is fattening up its asset portfolio. Today, the company announced the purchase of a logistics platform spanning 27,500 m2 in Alovera (Guadalajara) for €10 million. The asset has been acquired through the real estate vehicle Meridia III.

Constructed in 2006, the warehouse is located on the Corredor de Henares axis, an industrial area where companies such as Volvo, Eroski and Mahou are situated. The first warehouse that Meridia III acquired in April 2016 is also located there.

Following the signing of this agreement, Meridia Capital’s logistics portfolio will span a surface area of 112,000 m2 in total, of which 73,000 m2 has been purchased through Meridia III.

Meridia Capital is an independent manager that manages assets worth almost €1 billion (including debt). In recent years, it has established itself as one of the main regulated alternative investment managers in Spain.

Original story: Eje Prime

Translation: Carmel Drake