SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (SELP) joint venture, on behalf of SELP, has acquired a portfolio of Spanish logistics land sites.
All of the sites are in Barcelona and Madrid and are able to support approximately 240,000 square meters (2.6 million square feet) of modern, sustainable warehouse space, developable over the next five years, which will allow SEGRO, through SELP, to continue to build scale and increase its presence in Spain.
The sites total 41 hectares (101 acres) and are all in locations within close proximity to major population hubs, making them ideal to meet ongoing occupier demand that has been further strengthened by the rapid rise in ecommerce.
Five of the assets are in Barcelona, including development sites in Cerdanyola del Vallès, Terrassa, Palau-Solità i Plegamans and Viladecans, as well as an existing, fully leased 14,000 square-meter (151,000-square-foot) warehouse facility in the Polinyà municipality.
The remaining sites are in Madrid, including in Paracuellos, strategically located next to Madrid Barajas Airport, and two further sites bordering the M45 orbital road in San Fernando de Henares and Villaverde.
SEGRO said, “This acquisition will significantly expand our footprint in Spain, an exciting market where we are growing our portfolio of high-quality, well-located assets to meet the increasing demand for prime, sustainable warehousing. It will complement our existing portfolio in Barcelona and Madrid, helping to establish us as a leader in modern warehousing and industrial property in these important logistics markets.”
Source: IREI