P3 Logistic Parks has closed the acquisition of two warehouses in the La Coma Industrial Estate in Picassent, leased to Improving Logistics, recognised as the leading logistics operator in the Valencian Community in terms of surface area leased. This logistics centre consists of two buildings with dimensions of 17,000 square metres and 7,000 square metres respectively.
The warehouse delivered in June covers an area of 17,000 square metres, comprising a warehouse of 16,000 square metres, an office space of 1,000 square metres and has 24 loading bays. It also has a clear height of 11.2 metres.
The second warehouse, delivered in August, has a total surface area of close to 7,000 square metres, with a 6,550 square metre warehouse, 420 square metres of office space and eight loading bays. It also has a clear height of 11.2 metres.
Both warehouses are strategically located 18 kilometres from Valencia, in one of the most critical points for urban distribution in the Valencian Community. In addition, the area has a significant impact on regional logistics, as it acts as a cluster for suppliers serving Ford Motor Company's Almussafes hub. It should be noted that the warehouses offer direct access to the A-7 and V-31 motorways.
In terms of sustainable features, the facilities are designed according to the BREEAM Very Good standard. They are equipped with LED lighting and photovoltaic installations have been implemented with a power of 100 kilowatts (KW) and 70 KW for each warehouse respectively.
For this transaction, P3 was advised by Arcadis in the technical due diligence and HSF in legal matters, while CBRE advised the seller.
Javier Mérida, Managing Director of P3 in Spain, underlined the company's strategy by stating: "With this partnership with Improving Logistics, one of the most relevant logistics operators in the region, we reinforce P3's commitment to the Valencian logistics market. This project is an example of the modernisation of existing infrastructures, as they are located in strategic points for regional distribution".