egro acquires its ninth “property-logistics” asset in Spain since 201520 February 2018
Totaling 295,000 square meters of property, either completed or under construction
The British investment fund Segro, specialized in management, promotion and development of logistics and industrial assets, has purchased a seven-hectare plot in Mollet del Vallès (Barcelona), consolidating its position in Spain and close to 295,000 square meters of property.
This new plot is strategically located, with immediate access to the A7 highway that joins Madrid with France, and to the C17 highway which joins this town with Barcelona, just 21 kilometers away. The estate has a factory that Segro will transform into a 40,000- square meter warehouse for urban logistics.
The project foresees occupation of these facilities by a single client upon completion of construction in 2019. Furthermore, the warehouse will have the capacity for being divided into units of between 6,000-7,000 square meters. Segro has held conversations with the city council, which is willing to collaborate with the British company's initiatives that Josep Monràs, city Mayor, confirms “can generate employment and offer opportunities for the citizens of Mollet del Vallès”.
The Director of Segro Spain, David Alcázar, explains: "Our priority in Spain and in other places is to build modern, high-quality assets, not focusing exclusively on quantity. This is why we choose only strategic locations in Spain's most dynamic regions. Our goal is to design and develop innovative, high-quality warehouses for our clients, with class A eco-friendly buildings for urban logistics”.
Three years of purchases
The British firm launched its operations in Spain in 2015 and since then has acquired nine new “property-logistics” assets in the provinces of Madrid and Barcelona. Its initial activity was the development of a logistics center in Martorelles (Barcelona) that it currently leases to a leading e-commerce company.
In 2017 it identified Spain as a priority market. Over these three years, it has acquired a 16,000-square meter logistics park in Coslada (Madrid), another 49,000-square meter one in Castellar del Vallés (Barcelona), a plot in San Fernando de Henares and a second estate in Martorelles where it has begun the construction of a 20,000-square meter logistics building.
The most recent assets included in its portfolio have been two plots in Getafe (Madrid) and Sant Esteve Sesrovires (Barcelona), to which it now adds the one in Mollet del Vallès, expanding its portfolio to close to 300,000 square meters.