Brookfield announces major logistics development in Castilla-La Mancha

It is allying with Logistik Service to build an 80,000-metre logistics platform in Toledo

The Canadian multinational Brookfield Asset Management has initiated the development of an 80,000 square metre logistics platform in Ontígola (Toledo), as part of its joint venture agreement with the Spanish company Logistik Service. The warehouse, built on a 128,000-square-metre plot on the Dehesa de la Plata industrial estate, is designed to be able to expand the storage space by a further 30,000 square metres in the future.

The new logistics platform is expected to be fully operational by the summer of 2025. It will be equipped with 75 loading bays and a 35-metre manoeuvring area, and the clear height inside will be 13.70 metres. It will also have state-of-the-art offices and ample parking for vehicles and trailers. Consistent with both companies' agreement to build high quality logistics halls, the building will be LEED gold and Well gold certified.

South of the Spanish capital
Toledo has become a very important province for the logistics of many companies. Its proximity to Andalusia and the Levante, as well as the 45 minutes that separate the Ontígola industrial estate from Madrid and Adolfo Suárez Madrid-Barajas airport, make this location an important logistics centre to the south of the Spanish capital.

Brookfield managing director Alberto Nin Garaizabal says that this will be one of the company's biggest developments in Spain this year, and explained, "The project highlights our commitment to building high-quality logistics assets in the country and delivering scaled solutions for our major tenants. The Ontígola area has excellent connections and this new platform will support the economic growth of the area and create jobs for the local community."

Leading company
Logistik Service Development Director Javier Muniesa de Caveda values this project as "an important milestone for our company in its aim to become the leading company in the Spanish logistics real estate market. After several years and a variety of logistics projects in this municipality, this project reinforces its location as one of the key centres for logistics activities in our country".

Together with CBRE, the real estate consultancy firm Proequity participated , in the establishment of the joint venture and has been responsible for sealing the lease agreement for the new warehouse. His partner Daniel Galache said, "Aside from the obvious fact that this is a very important project, not only for all those involved but also with respect to the national market, we are very proud to have done our bit in demonstrating our ability to respond to the increasingly demanding needs of our clients in the real estate market."

Photo: Proequity