Kennedy Wilson has acquired a logistics warehouse in the Nuestra Señora de Butarque industrial estate, in the Madrid municipality of Leganés (Madrid), which will undergo a comprehensive reform.
The property has a total area of 16,390 sqm, divided between warehouse and office space. It was built in 1989 by Neinver, as a turnkey project for Comafe, the Madrid Ironmongers Cooperative, the sole and last tenant of the warehouse until 2020.
Currently, the facilities are empty, a situation that the US manager will take advantage of to carry out its comprehensive reform, with the intention of putting an asset fully adapted to current needs on the market in the first quarter of 2023.
With this acquisition, which has been advised by the consulting firm aCapital, Kennedy Wilson demonstrates its strong commitment to the logistics sector and further expands its presence in Spain, where it owns and manages different real estate assets.
At the end of the second quarter of 2021, it purchased an office building, partially leased from Wizink, from Merlin Properties for 40 million euros. But in Spain it also has the Morealeja Green shopping center, located in the Madrid municipality of Alcobendas, and the building located at number 9 Puerta del Sol, in Madrid, which is in the process of making a change of use that allows its exploitation as a commercial asset.