Tag: ZAL

Valencia Port Authority Puts 239,000 m2 of Land in ZAL on the Market

27 March 2019 – Expansión

On Friday, the Board of Directors of VPI, a subsidiary of the Valencia Port Authority and owner of the Logistics Activity Zone (“Zona de Actividades Logísticas” or ZAL) is going to approve the marketing of some of its land under a formula that will grant rights to its use for a fixed number of years to companies that pay a fee.

The plan is for the tender process to open on Monday and in total, 239,000 m2 of land is expected to go on the market.

Original story: Expansión 

Translation/Summary: Carmel Drake

Savills Aguirre Newman: Logistics Investment Fell by 17% in H1 2018 to €400M

31 July 2018 – Europa Press

The volume of investment in the Spanish logistics market amounted to €400 million during the first half of the year, down by 17% with respect to the same period in 2017, when the figure amounted to €490 million, according to figures compiled by Savills Aguirre Newman for its report entitled “The Logistics Market in Madrid and Barcelona, H1 2018”.

The entity explained that the decrease is due not to a reduction in investor appetite, but rather to a shortage of available supply in the main markets (Madrid and Barcelona), which is placing the focus of investors on secondary markets (Valencia, Zaragoza and Sevilla).

The initial yield for prime assets remains at around 6%, although for certain operations it has decreased to 5.5%.

In Madrid, according to the report, during the first half of the year, demand in terms of the leasing of logistics space was 17% higher than during the same period last year, with 451,000 m2 of space leased through 36 operations during H1 2018, compared with 387,000 m2 in the same period in 2017.

Four of the operations undertaken in Madrid, exceeding 20,000 m2 each, accounted for 48% of the total space leased. Activity in the Spanish capital was concentrated in Corredor de Henares, where 11 operations were closed, accounting for more than 118,000 m2 of the space leased (52% of the total).

In terms of the land market in Madrid, the report details that six operations were registered, accounting for a volume of more than 280,000 m2 altogether; one purchase stood out, in particular, spanning more than 95,000 m2, in Alcalá de Henares.

On the other hand, during the same period, 390,678 m2 of space was leased in the logistics market in Barcelona. Savills Aguirre Newman highlights the operation to lease a 48,000 m2 warehouse by Vente Privee.

During the first half of the year, 36 transactions were recorded in Barcelona in total, compared with 22 in 2017. One of the trends that has become clear is the projects being developed in the Logistics Activities Zone (ZAL), one of which involves a warehouse measuring 20,500 m2.

Moreover, a total of eight operations exceeding 20,000 m2 were closed, of which five were completed in the second quarter.

Original story: Europa Press

Translation: Carmel Drake

Merlin to Invest €250M Developing 565,000 m2 of Logistics Space

6 June 2018 – Expansión

The Socimi Merlin is going to invest €250 million developing 565,000 m2 of new logistics space in Madrid, Valencia, Sevilla, Málaga, Vitoria and Lisbon over the next two years.

According to explanations provided yesterday by the company’s CEO, Ismael Clemente, the next main complex that it is going to promote will be Cabanillas 2, in Madrid, measuring 210,000 m2.

The listed company will expand its logistics presence in Spain to 1.7 million m2. Merlin currently has more than 1.1 million m2, excluding the space it owns inside the Logistics Activity Zone (ZAL) in the Port of Barcelona.

Original story: Expansión

Translation: Carmel Drake

XPO Logistics Inaugurates its First ‘Last Mile’ Operations Centre in Spain

4 June 2018 – Eje Prime

XPO Logistics, the provider of transport and logistics solutions, is expanding its service in Spain. The group has recently launched two centres in Puerto de Sevilla, which together span almost 10,000m2. Both facilities are located in the Puerto’s ZAL (Logistics Activities Zone) and one of them is going to be the site of XPO’s first last mile operations centre in Spain.

XPO is also working on additional extensions to its last mile network in other Andalucían provinces, including opening an operations centre in Málaga dedicated exclusively to that activity.

This intensive service logistics area consists of specialised delivery, at-home assembly, and installation of large consumer products, such as furniture and household appliances. The 50 loading bays at the plants in Sevilla will be used to support the growing demand for the company’s last mile service, as well as its palleted cargo network (LTL) in Spain and Portugal.

XPO is present in all of the Andalucían provinces, where it operates a total of ten centres, owned and leased, including these two centres in the ZAL of Puerto de Sevilla. The company serves more than 500 clients of varying sizes and sectors across the region. XPO’s palleted cargo network in Spain includes 70 distribution centres and transports more than 4 million pallets per year, making it the national leader in this segment of activity.

Original story: Eje Prime 

Translation: Carmel Drake

Inv’t In Industrial & Logistics Land In Valencia Already Exceeds 2016 Total

30 October 2017 – El Economista

Demand for industrial and logistics land is growing fast in the province of Valencia. Sale and purchase operations involving this type of land have already exceeded the total volume of space (in square metres) sold during 2016 as a whole, by 30% at least, when operations spanning 585,000 m2 of space were signed – 130% more than during the previous year.

Information from specialist consultants and other data provided by public managers indicates that more than 750,000 m2 of land has been acquired, with a significant percentage of the operations being closed in Ribaroja, Cheste and Sagunto –almost half of the square metres purchased are located in Parc Sagunt, which has experienced a boom since the arrival, in December, of Mercadona, which plans to construct its largest logistics platform there (…).

This increase in demand comes in response to a combination of factors, including: the consolidation of the economic recovery, supported both by internal demand and the export of products and services, which has boosted projects to expand production capacity and storage by industrial groups; the positive outlook for the next few years; improvements in terms of the access to and conditions of financing; projects to improve the communications network – above all, the railways; the growing interest from investors – corporate and institutional, in particular – looking for options to generate higher returns than those found in the financial and securities markets; and the growing demand for modern, high-quality, large assets, in good locations, which have been underserved in recent years due to the total stoppage of new development projects in this field, as a result of the economic crisis (…).

Aguirre Newman adds another element that has benefitted the Valencian market: “The shortage of supply in the main markets in Spain – Madrid and Barcelona – has boosted interest in secondary markets, in particular, in Zaragoza, Valencia and Sevilla”. And this trend could be reinforced in the coming months due to the instability in Cataluña, which is leading to the departure of companies and the suspension of investments.

This confluence of factors has contributed to an increase in the presence of investment funds, Socimis and specialist property developers as the main players participating in sale and purchase operations, above all in the last year and a half (…).

In terms of rental prices, in the prime areas of Valencia, maximums amount to €4.25/m2/month in the Centre Axis of Ribaroja, whilst in the Southern Axis (…), rents have stabilised at €4/m2/month.

In terms of the profitability of logistics rental spaces, whilst in Madrid and Barcelona, yields amount to between 5% and 6%, in the areas with the highest demand in the Community of Madrid, they range between 7% and 9%, according to the consultants (…).

Meanwhile, the Port Authority of Valencia (APV) expects that the Logistics Activity Area (ZAL) will become operational during the first half of 2018, after two decades of delays (…).

Original story: El Economista (by Olivia Fontanillo)

Translation: Carmel Drake

Saba Sells Stakes In 5 Logistics Parks To Merlin

26 September 2016 – Expansión

The parking management company Saba has closed an agreement with the Socimi Merlin Properties to sell Saba Parques Logísticos, the company that groups together stakes in five logistics parks.

In a statement, Saba, which did not disclose the consideration paid for the sale, clarified that the operation includes stakes in the following logistics parks: CIM Vallès (Santa Perpètua de Mogoda, Barcelona); Lisboa Norte; the Logistics Park in the Zona Franca, in Barcelona; Sevisur, in the ZAL in Sevilla; and Arasur, in Álava.

Saba stated that the competition authorities have already approved the operation, which is expected to be signed within the next few weeks. The firm also explained that this sale forms part of its strategy to reorganise its asset portfolio to focus on its parking activity.

In fact, since 2011, the group has invested €482 million to strengthen its car park business.

Logistics parks accounted for 14% of Saba’s revenues last year, whilst its car park business generated the remaining 86%. Saba has operations in Spain, Italy, Portugal and Chile.

Original story: Expansión

Translation: Carmel Drake

Merlin Hopes To Buy Saba Logística For €150M After The Summer

26 February 2016 – Expansión

Merlin expects to complete its purchase of Saba’s logistics assets after the summer. The Socimi, which is listed on the Ibex, signed a contract with the company led by Josep Martínez Vila, to enable its acquisition of the stake that the company, controlled by Criteria CaixaHolding, holds in assets in Cataluña, Sevilla, Álava and Lisbon, which cover a surface area of 389 hectares. The purchase price is expected to amount to around €150 million, including debt.

Saba already sold the 32% stake that it held in Cilsa to Merlin last October for €50 million. Cilsa is the company that operates the Logistics Activity Area (‘Zona de Actividades Logísticas’ or ZAL) in Barcelona. Cilsa announced yesterday that it will invest €30 million over the next year and a half in the development of 50,000 m2 of logistics space in Barcelona and El Prat. It will be its first investment of this kind since 2008.

Original story: Expansión (by A. Zanón)

Translation: Carmel Drake

Merlin Buys Saba’s Stake In Cilsa For €50M

23 October 2015 – Expansión

The real estate company Merlin has paid €50 million for a 32% stake in Cilsa, the company that operates the ZAL (Logistics Activity Area or ‘Zona de Actividades Logísticas’) in the Port of Barcelona. The stake was previously held by Saba, which is divesting its logistics business to focus on its core car park activity.

Original story: Expansión

Translation: Carmel Drake