SEGRO reinforces bet on logistics in Barcelona and Madrid with €450M

SEGRO reinforces bet on logistics in Barcelona and Madrid with €450M

In a release, the REIT advanced that this operation was carried out through its vehicle SEGRO European Logistics Partnership (“SELP”) and that the 8 units now acquired have a total of 41 hectares and capacity to build 240.000 sqm of new logistic areas. The development of these logistic units should be carried out during the next 5 years.

This portfolio is evaluated in around 450 million euro, and the total investment involved in SEGRO’s expansion logistic plan should reach 1.000 million, advanced the newspaper Cinco Días this Wednesday.

Five of the assets are located in Barcelona, including development sites in Cerdanyola del Vallès, Terrassa, Palau-Solità i Plegamans, Viladecans as well as an existing, fully let 14.000 sqm warehouse facility in the Polinyà municipality. The remaining sites are located in Madrid including Paracuellos, next to Madrid Barajas Airport and two further sites bordering the M45 orbital road in San Fernando de Henares and Villaverde.

The locations’ proximity to urban centres «makes them ideal to meet ongoing occupier demand that has been further strengthened by the rapid rise in e-commerce», revealed SEGRO.

For Marco Simonetti, Southern Europe Business Unit Director for SEGRO, «this acquisition will significantly expand our footprint in Spain, an exciting market where we are growing our portfolio of high quality, well located assets to meet the increasing demand for prime, sustainable warehousing. It will complement our existing portfolio in Barcelona and Madrid, helping to establish us as a leader in modern warehousing and industrial property in these important logistics markets», he concluded.

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