Bluespace reinforces its Valencia portfolio with new acquisition

Bluespace reinforces its Valencia portfolio with new acquisition

Photo: BNP Paribas RE

This acquisition was made in order to «meet the company’s needs in terms of expansion within the Valencian Community capital, in particular in the city’s Northern area», it can be read in the release from consultant BNP Paribas Real Estate, which advised this operation. The amount of the operation was not disclosed.

Currently deactivated, this asset has a 5.794 sqm build area, which was once an elevator manufacturer from German thyssenkrupp Elevator. Built on an 8.966 sqm terrain located at number 311 Avenue Constitución, in Valencia, this unit should be rehabilitated so that Bluespace can carry out its activity, revealed BNP Paribas Real Estate which advised this operation.

This is Bluespace’s fifth unit in Valencia, one other is located at Fusters de Vara de Quart, with 8.259 sqm and was acquired from REIT Silicius in June. The other three are located at Mislata, Valencia capital (Campanar area) and the recently expanded Alfafar centre.

Bluespace currently has 41 centres spread across Barcelona, Madrid and Valencia, on which it provides «a full storage unit and warehouses rental service for private citizens and companies, as well as moving services and cardboard boxes».

Logistic in Valencia shows the dynamism

The Valencia logistic market has proven to be «a very active market in terms of logistics and distribution», having, up until the 1st of October a contracted area of 135.308 sqm, according to data from BNP Paribas RE.

Demand has been so high, that developers and funds keep developing logistic platforms. There is currently 54.608 sqm under construction expected to be delivered until the end of the year. The availability rate remains low since there are around 4.68% warehouses available for a full logistic area which surpasses 2 million sqm.

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