Iroko Zen buys a 3,500 sqm industrial building in Barcelona

Iroko Zen buys a 3,500 sqm industrial building in Barcelona

The French real estate investment company, constituted through a SCPI, has closed the purchase of an industrial warehouse in sale & leaseback format in Barcelona, as reported in a statement.

The asset, a 3,500 square metre warehouse, is located in the first metropolitan area, specifically in the municipality of Abrera, and is dedicated to the pharmaceutical sector. The transaction has been advised by Savills.

The location and low availability characterise the Catalan logistics market, which gives security to this type of investment operation. According to Savills data, logistics contracting in the Barcelona area reached 214,000 square metres in the first quarter and supply in the region is still very low, concentrated mainly in a few warehouses located in the third ring road.

The operation also confirms the interest of French capital in the Spanish real estate market. In 2022, French investment exceeded €960 million, 51% more than the previous year, doubling its share of the total volume of investment in the last three years.

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