Nuveen buys a logistics warehouse in Tarragona from Scanell for €30M

Nuveen buys a logistics warehouse in Tarragona from Scanell for €30M

Nuveen Real Estate has bought a logistics platform project from Scannell Properties in Constantí (Tarragona). According to Expansión, the deal is worth around 30 million euros. The shortage of supply in the Catalan market, with an availability rate of 2%, is leading investors to enter more and more early stages.

The logistics warehouse will have a total surface area of 40,000 square metres on a plot of 60,000 square metres. The construction company in charge of the works is GSE. Scannell Properties is the developer of the warehouse, which is expected to be delivered in the summer of 2023.

The complex will include a 37,500 square metre warehouse and office space, as well as outbuildings with an area of 2,500 square metres. The project has high technological and sustainability standards, adapting to the needs of logistics operators. In total, it will have 45 loading bays, a large manoeuvring area, the possibility of being divided into four modules and a free height of 11.6 metres. It will also have 484 parking spaces.

The asset is located in the third urban ring of Barcelona. The Constantí industrial estate has important transport infrastructures such as Reus airport -just 9 minutes away-, the port of Tarragona -20 minutes- and quick access to the AP-7 and A-2 motorways.

"Our commitment to the logistics sector in Spain is solid. We believe that e-commerce growth rates will continue to rise steadily and the real estate market needs to respond to the ever-increasing demand from operators," says Nuveen Real Estate's director in Spain, Javier Martín.

"The new facility responds to the growing need for high quality logistics space in Catalonia, in a market with high demand and low supply and which concentrates 5.5 million consumers," adds Scannell Properties' director in Spain, Javier Ichauspe.

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!