CBRE Global Investors has bought a XL logistics platform in Miralcampo, Spain, on behalf of its CBRE European Industrial Fund (EIF).
The 61,000 sqm logistics warehouse is located in Azuqueca de Henares, in the Henares corridor, near Madrid. It has direct access to the A-2 Madrid-Barcelona motorway, one of the main logistics hubs in Spain.
The platform has been fully let to French hypermarket Carrefour since it was built in 2002. It has been designed to meet Carrefour’s requirements but has flexibility to be reconfigured for single or multiple occupier use in the future.
The acquisition falls in line with European Industrial Fund strategy to invest in prime logistics properties across Europe, creating a leading investment portfolio of logistics hubs let to top tier tenants.
Pierre-David Baylac, Fund Manager of EIF, CBRE Global Investors, says: “Miralcampo offers a prime location from which to serve Madrid or set up a national supply chain strategy. This location in combination with its size positions it strongly for future trends as we see requirements for extra-large facilities close to main population centres increasing.”
Logistics in Barcelona and Madrid are one of our preferred European investment themes at present as we see a shortage of modern facilities and strong demand driven by e-commerce.
CBRE Global Investors now has 28 logistics assets under management in the Iberian Peninsula, which total more than 500,000 sq m.
Source: PropertyFundsWorld