Merlin Properties has signed a lease agreement with Worten to occupy a total of 122,000 sqm in its logistics park in Lisbon, the largest development of its kind in Portugal. As reported by El Economista, the contract includes the lease of two warehouses, one of them with a surface area of approximately 100,000 sqm, which will become Worten's largest logistics centre in Portugal, and another of 22,000 sqm within a multi-tenant platform.
The Lisboa Logistics Park, located in Castanheira do Ribatejo -about 20 minutes from the Portuguese capital and with direct access to the A-1, A-9 and A-10-, is one of the socimi's major commitments to strengthen its logistics presence on the Iberian Peninsula. In addition to the agreement with Worten, the park has recently added another lease with DSV for a 16,000 sqm warehouse, according to the company's latest results presentation.
Merlin's logistics strategy has maintained a good pace during 2024. The company closed the year with a portfolio of 95 logistics assets and 2.8 million sqm under management, distributed among more than 100 tenants. The portfolio as a whole has recorded an occupancy rate of 99.4%, a record high according to the company's own data, as well as growth in comparable rents and renovations.
At the same time, the socimi has made progress in new turnkey developments, including a warehouse of more than 18,000 sqm for Total in Cabanillas Park II and another of 2,477 sqm in Sevilla ZAL for XPO. Of the 511,000 sqm of logistics land currently under development, 155,000 sqm are already pre-leased and a further 77,000 sqm have signed letters of interest.
In terms of the territorial distribution of its logistics portfolio, the metropolitan area of Madrid accounts for 58% of the total, followed by Barcelona (26%). Valencia, Seville and the Basque Country complete the portfolio with 4% each.
