Palm Logistics Develops a 115,000m2 Logistics Hub in Getafe (Madrid)

27 March 2019 – Press Release

Palm Logistics, the dedicated affiliate of Palm Capital, the pan-European real estate private equity specialist, is set to deliver a large logistics hub in Madrid, to meet the pent-up demand for modern logistics in the capital and respond to the rapid growth of e-commerce and supply chain rationalisation across Europe.

The site, covering more than 115,000 m2 across 10 grade-A logistics buildings, will provide the best ‘last mile delivery’ option to Madrid while being easily accessible to the rest of Spain and across Europe.

The first phase, due to complete this summer, comprises a 33,000m2 leasable area across two buildings with the ability to offer modules from 7,000m2 to 20,000m2.  The buildings will be certified LEED Silver, having been built to the highest quality standard with key sustainability considerations in mind.

Gavilanes is located close to main roads, the airport and the Abroñigal intermodal station with its large roads and roundabouts adapted to the traffic of heavy vehicles.  The site is already home to several first-class international companies including Amazon, Decathlon, Costco, Mercadona, and ID Logistics.

Original story: Press Release

Edited by: Carmel Drake

General Càrnia Invests €20M to Build a 11,000m2 Warehouse in Barcelona

21 March 2019 – Eje Prime

The meat retailer General Càrnia is investing €20 million in the construction of a building measuring 11,000 m2 on a plot that occupies the site of the former Makro store. The warehouse will be ready by the summer of 2020.

Mercabarna awarded the 20,500 m2 plot to General Càrnia for €4.7 million in 2017. The company has the right to operate the site for 20 years in exchange for the payment of an annual rental.

Original story: Eje Prime 

Translation: Carmel Drake

Mercadona is Awarded a 30,220 m2 Plot in Sevilla for €10.8M

20 March 2019 – Diario de Sevilla

The Town Hall of Sevilla has awarded a plot of land spanning 30,220 m2, with a buildability of 38,580 m2, in the Higuerón Sur area of the city, to Mercadona for €10.8 million.

The supermarket company is planning to build a warehouse on the site to serve its online shopping service in Sevilla and the surrounding area. Construction work is expected to begin in 2020.

Mercadona already has a similar kind of centre, which it calls a “hive” in the city of Valencia. Moreover, it plans to open two new hives in 2019, in Barcelona and Madrid.

Original story: Diario de Sevilla (by Alberto Grimaldi)

Translation: Carmel Drake

GreenOak Sells a Warehouse in Valdemoro for €9.75M

18 March 2019 – Eje Prime

Gore Spain, the Socimi owned by the US fund GreenOak, has sold a warehouse located at number 208 Avenida Andalucía in Valdemoro (Madrid) for €9.75 million, according to reports made by the company to the Alternative Investment Market (MAB).

The warehouse has a leasable surface area of 24,449 m2, comprises two above-ground floors and is located just 27 km from the centre of the Spanish capital.

The asset has been vacant since July 2016 and owned by Gore Spain since February 2017, which purchased it from Goodman. The identity of the buyer on this occasion has not been revealed.

Original story: Eje Prime (by Roger Arnau)

Translation/Summary: Carmel Drake

Amazon to Open its Largest Logistics Warehouse in Dos Hermanas

1 March 2019 – ABC Sevilla

Amazon is going to open its largest distribution centre in Spain in the Megapark business park in Dos Hermanas (Sevilla) to become the park’s first tenant. The new mega-warehouse will have a constructed surface area of around 190,000 m2 on a plot spanning 165,000 m2 and is expected to be operational from 2021.

The e-commerce giant has been searching for a suitable facility for months and has opted for Megapark in the end due to its excellent road network and proximity to the Port of Sevilla, where it will open a new logistics station.

The plot of land and the future warehouse will both be owned by the investment fund Goodman Real Estate Spain, with which Amazon is expected to sign a lease contract within the coming days.

One of the benefits of the location in Sevilla is the availability of the port, which means that Amazon will be able to offer a more comprehensive delivery service to the Canary Islands by boat.

The business park is located opposite the La Isla industrial estate, between the A-4 motorway towards Cádiz and the future SE-40 ring-road.

Original story: ABC Sevilla (by Elena Martos)

Summary/Translation: Carmel Drake

Prologis Buys a 16,758m2 Warehouse from Merlin

6 February 2019 – Expansión

Prologis has purchased a warehouse measuring 16,578 m2 located in the La Granada del Penedès logistics park (Barcelona) from the Socimi Merlin. Following the operation, the company Prologis is now the sole owner of 100% of the logistics park.

Original story: Expansión

Translation: Carmel Drake

Segro Buys a 28,500 m2 Warehouse in Granollers

29 January 2019 – Eje Prime

Segro is continuing to grow its logistics portfolio in the Spanish market. The British Socimi has acquired a distribution centre measuring 28,500 m2 in Granollers (Barcelona), leased to the logistics operator ID Logistics, with which Segro has a long-term agreement.

The asset was constructed in 2019 and is located thirty kilometres from Barcelona, with easy access to the A7 and C17 motorways. The group has highlighted “the location and access of the asset for distribution across the south of Europe”.

The company, founded in 1920, entered Spain in 2015 with the development of a logistics centre in Martorelles (Barcelona). Since then, Segro has purchased a 16,000 m2 logistics park in Coslada (Madrid), another 49,000 m2 site in Castellar del Vallès (Barcelona), a second plot in Martorelles, where it is constructing an asset spanning 20,000 m2, and a plot in San Fernando de Henares.

Segro has also added other plots in Getafe (Madrid), Sant Esteve Sesrovires (Barcelona), Mollet del Vallès (Barcelona) to its portfolio, as well as a second building in Coslada (Madrid), and Villaverde (Madrid). In total, the firm has a portfolio spanning 400,000 m2 of constructed space in Spain and another 70,000 m2 under construction.

Original story: Eje Prime 

Translation: Carmel Drake

Urban View to Debut on the MAB with a Valuation of €38M

23 January 2019 – Eje Prime

Urban View is finalising its debut on the MAB. The rental home Socimi is going to start trading on the Alternative Investment Market (MAB) on Friday for a price of €7.20 per share, which represents a valuation of €38 million.

The group, created in March 2017, is owned by the Urban Group holding company, which specialises in the acquisition and management of residential real estate assets. The firm will make its debut on the MAB with a portfolio of 454 assets, including homes, garages, commercial premises and a warehouse, through a dozen family Socimis.

The assets owned by Urban View Development are distributed across five autonomous regions: Cataluña and Madrid, which account for 96% of the portfolio; the Balearic Islands, Andalucía and the Community of Valencia. Currently, 31.7% of the company’s homes are leased.

Original story: Eje Prime 

Translation: Carmel Drake

Savills: Cataluña will Add 340,000 m2 of Logistics Land to its Stock by 2020

7 December 2018 – Eje Prime

Cataluña is going to increase its stock in the logistics market. Over the next two years, the region is going to add 340,000 m2 of industrial land to its portfolio, of which 275,546 m2 will be incorporated in 2019, according to data from the consultancy firm Savills Aguirre Newman.

Next year alone, nine assets will be debuted, which will be available as leased spaces spanning a combined surface area of 164,746 m2. For 2020, several projects have already been signed with logistics operators, to incorporate 68,500 m2 into the logistics sector. In this sense, the consultancy firm expects to increase the signing of at-risk projects with a leading role for overseas funds, which are taking positions in land and investment operations.

This year, the Catalan logistics market has increased its stock of new surface area by 459,112 m2, a rise of 8.5% with respect to the previous year. It is an increase that responds to the strong performance of the sector, which closed the third quarter with 493,615 m2 of space leased, up by 56% compared to the same period in 2017. Those figures invite Savills Aguirre Newman to predict that 600,000 m2 of space will have been absorbed in total by the end of the year.

During 2018, some major logistics projects have been launched in the region, such as the 81,000 m2 complex built in La Bisbal del Penedès. That space is 68% occupied by ID Logistic, which has Kiabi as a tenant. Moreover, Sesé Logística and the e-commerce group Vente Privee have absorbed 50,000 m2 of space each.

The first ring and the centre are the preferred areas

By volume of operations, the first ring and the prime-centre are the two areas that have recorded the most activity during 2018. Those two areas registered joint growth of 50% during the third quarter, with 375,000 m2 of surface area leased.

The third ring was the only area that reduced its activity during the third quarter, with a decrease of 11.69%. Nevertheless, it will be the area that accounts for the greatest availability of consolidated warehouses in 2019, with three assets that will account for 52% of the total.

In terms of rents, rental prices have grown by 6.5% on average this year, whilst the availability rate in Cataluña currently amounts to less than 3%. In this regard, professionals from the sector who participated in a conference organised by the consultancy firm emphasised the need for public institutions to collaborate with the private sector for the development of new industrial and logistics areas.

Warehouse measuring between 2,500 m2 and 5,000 m2.

Currently, the most sought-after warehouses by the logistics market in Barcelona are assets measuring between 2,500 m2 and 5,000 m2. 31% of the spaces leased this year have involved warehouses of that size, compared with 27% of operations that have been signed for assets with surface areas of between 5,000 m2 and 10,000 m2.

The strong performance of the Catalan logistics segment is also being replicated in Madrid. In the vicinity of the Spanish capital, 637,000 m2 of space had been leased by the end of the third quarter, up by 4% compared to the same period last year.

Original story: Eje Prime

Translation: Carmel Draje

Invesco Buys 2 Warehouses in Madrid’s Prime Logistics Area from GreenOak

21 November 2018 – Eje Prime

Invesco is raising its commitment to the Spanish logistics sector. The British real estate group has purchased two warehouses located in the Puerta de Madrid Logistics Park from the US fund GreenOak. The two warehouses have a surface area of more than 38,000 m2, according to a statement from the company.

The assets are located on Calle de los Tapiceros in San Fernando de Henares, an area very close to the Spanish capital and the A-2 motorway, the busiest road in the last mile market. Invesco expects that the warehouses, which have a high degree of occupancy, will be finished by the end of the year. The operation has been advised by the real estate consultancy Cushman & Wakefield.

This new investment in Madrid, whose amount has not been revealed, follows the group’s search for a tenant for the 30,000 m2 logistics platform that it owns in Los Gavilanes, in Getafe.

Moreover, across the whole of Spain, Invesco has undertaken several operations in the logistics market over the last year. One of the most important took place last December when the real estate group acquired the facilities that house the headquarters of Mango in Palau-solità i Plegamans (Barcelona) for more than €100 million.

Original story: Eje Prime 

Translation: Carmel Drake