Aberdeen Standard Investments (ASI) has continued to increase its investment in the urban logistics sector with the purchase on behalf of its investors from SEGRO European Logistics Partnership (SELP) of a first class last mile logistics unit in Barcelona for an approximate value of 19 million euros. The building, located 20 minutes by car from the center of Barcelona, has a privileged location to benefit from the growth of electronic commerce and the scarcity of development opportunities in the Barcelona area.
Leased in its entirety to Mediapost (a subsidiary of La Poste Group, a French state company), the asset was developed in 2019 under a bespoke construction model for the tenant. The unit has 13,900 sqm of modern warehouses and offices. It is located on the well-established AP-7 motorway, which runs along the Mediterranean coast of Spain, connecting this asset with France and the rest of the European markets.
Pilar Valencia, Head of Asset Management and Transactions, Spain and Portugal, of Aberdeen Standard Investments, has commented: "After several acquisitions of warehouses in main logistics hubs in Spain in recent years, this is our first acquisition in this sector in Barcelona. The warehouse, which was built with modern technical specifications, is located in an excellent location that allows an easy connection with France and the rest of Europe. This acquisition allows us to continue diversifying our real estate portfolio, providing the desired profitability for our clients. , demonstrates the potential of Spain for real estate investment, especially in this sector that continues to show great resilience and great growth prospects in the future. "
David Alcazar, General Director of SEGRO Spain, commented: "This operation has been a good opportunity to take advantage of a bullish investment market and sell an asset that we acquired as part of an expansion of our property portfolio in 2020. We continue to bet on our line of business, developing higher quality logistics and urban distribution platforms, in prime locations in Madrid and Barcelona.
The operation has been advised by Garrigues, Dokei, Rambol and Savills Aguirre Newman by Aberdeen Standard Investments and Knight Frank and KMPG Abogados, by SEGRO European Logistics Partnership (SELP)