Patrizia initiates sale of Amazon logistic centre for €100M

Patrizia initiates sale of Amazon logistic centre for €100M

Alcalá de Henares Logistic Centre | Photo Collected From Amazon.es

This operation is currently at the non-binding bidding stage and is being advised by consultant JLL. Sources knowledgeable about the process informed El Confidencial that Patrizia expects to conclude the sale of this asset for more than 100 million euro, which might set its yield at 4%.

Amazon’s new 75.000 sqm logistic centre is located in ‘El Encín’ industrial park, within Madrid’s Corredor de Henares. This asset is one of the German company’s latest acquisitions, part of the Mercury portfolio acquired from American GreenOak in March for around 213 million euro.

Giant Amazon announced the occupation of this logistic centre in June through a release. This new centre will complement the San Fernando de Henares unit (Amazon’s first unit in the Comunidad de Madrid) activity and it should open in the Fall.

During the 6 months between acquiring and selling the asset, Patrizia also concluded the unit’s leasing contract. This swiftness reflects the appetite for logistic units of this type near urban centres, a trend which has been reinforced by the effects of the current pandemic crisis which accelerated the growth of e-commerce within the country.

Amazon has already invested €2.900M in Spain

Amazon started operating its logistic network in Spain in 2012 with the San Fernando de Henares (Madrid) logistic centre. But it had already launched Amazon.es the previous year

Within the last 7 years, the company opened logistic centres in El Prat (Barcelona), Martorelles (Barcelona), Castellbisbal (Barcelona), Illescas (Toledo), and has recently announced Dos Hermanas (Sevilla), besides Alcalá de Henares (Madrid). Amazon also has two distribution centres, located in Getafe (Madrid) and Barberá del Vallés (Barcelona), and 12 logistic stations located across the country to reinforce its delivery services.

For Stefano Perego, Vice-president of Customer Fulfilment for Amazon in Europe, «this [new] centre is a clear example of our commitment towards Spain, creating more than 500 permanent jobs within the next three years, which will help us reach more clients all over the country».

«Since we started our commercial activity in Spain, in 2011, we have invested more than 2.900 million euro in infrastructure and facilities, transport and delivery, as well as wages and benefits for our employees. We have also committed to invest in renewable energies as a critical step to erase our carbon footprint», mentioned Stefano Perego in the same document.

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