Portuguese investment company buys 1.500 sqm property in Almada

Portuguese investment company buys 1.500 sqm property in Almada

A Portuguese investment company has bought a property of about 1,500 square metres, situated next to the Almada City Council premises. The property was sold vacant to the Portuguese company.

B. Prime was responsible for marketing the property on behalf of an American company listed on the NASDAQ. The property is industrial in nature but has the potential to be converted for logistics.

Companies "are increasingly looking for long-term leases and new state-of-the-art facilities," but operators "are mainly looking for alternatives to respond to Last Mile logistics solutions, which are increasingly a necessity for companies that have part of their business based on online commerce," the statement said.

Nuno Ferreira, from B. Prime's investment department, explains that "the logistics market is still very unbalanced, with demand exceeding supply, and therefore there are several investors in the market who are aware of this fact. Whenever possible they try to take the opportunity to invest in this sector, having noticed the demand for new centralities where the fundamentals work. In this case the good accesses, good visibility and insertion in a consolidated area with densely populated surroundings were certainly important in the purchase decision".

The lack of land in consolidated locations has led some investors to look for vacant and sometimes obsolete facilities, with the aim of converting them into new units suitable for current requirements.

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