IberAtlantic invested €17M on last-mile project in Lisbon

IberAtlantic invested €17M on last-mile project in Lisbon

IberAtlantic Logistic Park Lisboa (3D)

Spread across a 45.000 sqm GLA, the infrastructure will allow its future tenants to deliver orders to two-thirds of the population within Lisbon’s Metropolitan area in less than twenty minutes, guaranteed the developer. «This is very hard to achieve in a market where the main industrial parks do not have available empty spaces, or, in the best-case scenario, their warehouses are old and lacking sufficient space to hold the necessary infrastructure and traffic required for e-commerce activity», explained the Spanish company headquartered in Vigo.

Despite the «growing demand» led by the last mile distribution segment, the IberAtlantic team considers that within the Portuguese market, «what little offer there is, is old fashioned» for these logistic operators, who require the latest in automated platforms so as to keep the logistic cycle permanently active.

«The data concerning the offer, as well as the rental operations concluded during 2020, shows the growing pressure, within the Portuguese market, to provide modern and well-fitted spaces, with more than 10.000 sqm», explained IberAtlantic Real Estate’s director of development, Jorge Pernas, to newspaper Faro de Vigo, which reported the news.

The infrastructure baptized IberAtlantic Logistic Park Lisboa, will have a GLA of more than 19.000 sqm, including warehouses and offices. 4.600 sqm will be destined to cross-docking areas for lorries. The park’s plan includes perimeter circulation and several parking areas for a total of 330 vehicles.

«From the start, we were focused on the design, construction and operability of the logistic centre, because we are very much aware that the logistics of the future will be based on automation, technology and sustainability», remarked Jorge Penas. Hence, «we believe we will develop the best last-mile platform in the entire country, given the information we have available and the interest our operation is generating. It is our star project for 2021».

«We want to be leaders in the development of logistic assets in Iberia»

At 17 million euro, this investment in Portugal is part of a strategic plan from the company headquartered in Vigo, which started its activity in 2016 with the acquisition of a portfolio of logistic and industrial assets located in Portugal and Spain. «Once the construction works begin, we will increase our logistic portfolio. Our goal is to become leaders in the development of logistic assets within the Iberian market, attracting capital from different funds, especially international funds and with a particular focus on institutional investors from Russia»

The secret of last mile's success

At a time when e-commerce continues to grow around the world, last-mile delivery appeared as a challenge for the entire logistic chain. As the name says, it refers to the last link within this process, the delivery to the final client in an urban setting and which is increasingly more demanding in terms of conditions and delivery deadlines.

With growing popularity, this distribution system reduces times and increases efficiency, since the commodities are not only not stored, but delivered as they arrive. This means that the goods are received at the logistic platform and immediately handed over to the transport that will deliver them to the final client. There is practically no intermediate storage, as with the “just in time” automation model.

Last-mile logistics has been one of the great catalysts responsible for the renewed interest in the Portuguese logistic market, where occupancy more than doubled last year. Focused on the suburbs of Lisbon and Porto, during the last few months several developers and operators specialised in this segment confirmed their intent to invest in Portugal, clearing space for new reference projects such as the VGP Park in Santa Maria da Feira and the first stage of Plataforma Logística Lisboa Norte (Lisbon North Logistic Platform), in the hands of Merlin.

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