Improving sells two warehouses in Valencia to P3 Logistic Parks

Improving sells two warehouses in Valencia to P3 Logistic Parks

Improving Logistics, which already has 240,000 square metres of logistics space in the Valencia region, has increased its presence in its home area, the south of Valencia. This new project consists of two logistics assets in which the group will remain as a tenant. The warehouses have a total surface area of around 25,000 square metres and are located in the La Coma Industrial Estate in Picassent.

The consultancy firm CBRE has advised Improving Logistics throughout the project, which has ended with the sale of the two assets under a Sale & Lease-back model to the pan-European property investor, developer and owner of logistics real estate, P3 Logistic Parks.

David García, founder and CEO of Improving Logistics, said: "This operation has allowed us to make a leap in quality at our facilities located in the southern area of Valencia. It is a decision that is part of the strategy that our company has designed: we want to be in the best locations in the Valencian market and as close to our customers as possible in order to offer the most efficient service".

The two logistics platforms, built by Alcalans Promotora, have "the highest quality standards" and Breeam Very Good sustainability certification. Improving Logistics designed the building project to ensure the versatility and efficiency of the warehouses. The assets have a total of 32 docks and are adapted to store APQ goods.

The logistics area comprising Picassent, Almussafes and Alcácer is considered, together with the Ribarroja-Cheste area, as the prime market areas in Valencia. The strategic location of the Picassent industrial estates (next to the junction of the A7 and V-31 motorways), the proximity to the Ford Almussafes factory and the direct access to the port of Valencia, have contributed in recent years to the growth of quality logistics stock in this area.

Javier Muñoz, Director of Industrial & Logistics for the East Zone of CBRE Spain, commented: "We are very proud to contribute to the growth of Improving Logistics, a Valencian company that is the undisputed benchmark in the sector in our community. This investment operation confirms that, despite the corrections that yields are suffering, the real estate investment market continues to be active. The strategy of institutional funds and property investors such as P3 Logistic Parks is to continue acquiring profitable assets in Spain".

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!