The parcel was owned by a family office and Scannell will build a 21.000 sqm warehouse which will have one or two tenants. Total investment for the project is around 25 million euro.
During the coming weeks, the developer will apply for the construction license, so it can start the construction of the logistic platform during this year’s third quarter. The asset delivery is expected for the second quarter of 2022.
Javier Inchauspe, Scannell Properties general manager for Scannell Properties in Spain, estimates the future logistic centre to be built in this parcel «will be in great demand both for its excellent location and its flexibility, by being an adjustable warehouse for one or several tenants».
Invertica and CBRE advised the operation and were also in charge of marketing it. Dentons y Mazars and Global Realty Capital also took part in financing the operation.
Landing in Spain
Scannell Properties landed on the Spanish market last March with the opening of an office in Madrid and with the intent of becoming one of the main logistic players in the country. The company’s main goal is to buy terrains to develop logistic assets, both with previous rental agreements or taking risks in areas like Madrid, Barcelona, Malaga, the Basque Country and Valencia.
In order to achieve these goals, Scanell hired a Spanish expert in real estate as is Javier Inchauspe, who had, up until now, been a director at Merlin. His professional career was always connected to the real estate sector, in companies such as Knight Frank, Grupo Lar and ING Real Estate, among others.