Photo: Arrow Capital Partners
The warehouse is located in the municipality of Daganzo de Arriba (Madrid), between the Corredor del Henares and the north of Madrid. It is 90% occupied by a food & beverage company, added Arrow Capital Partners in a released that also reveals that Savills Aguirre Newman advised the operation on its side.
The area around the site is «a strategic location for companies due to its easy accessibility to Madrid and to the rest of the peninsula as it is located between two of the main transport axes, the A-1 and A-2, and is very close to the M-50», can be read in the document.
Malgorzata de la Torre, Head of Acquisitions in Spain at Arrow, said that «the asset provides modern, well-specified space in a prime urban location for tenants. It is ideally located for Madrid and is situated in a transport hub with easy access to the major motorways. We look forward to providing an excellent facility for our tenants», added.
This is «major warehouse acquisition in Spain» for its 3 billion euro Strategic Industrial Real Estate (SIRE) platform, reveals the company.
For Robert Howe, Head of Real Estate Europe at Arrow, «this acquisition continues SIRE’s investment in European industrial and logistics assets which are benefiting from the rapid growth in occupier demand and the need for a last-mile delivery capability. It accelerates our deployment of capital in Spain where we have over 150 million euro in assets under management or in exclusivity», resumed.
For the future, Robert Howe has no doubts: «We are targeting further investments of over 500 million euro in Spain over the next three years, focused on core and non-core assets with income and vacancy or with refurbishment and development potential».