Prologis has acquired 70,000 square metres of land in Valencia for the development of two logistics buildings, each totalling more than 23,000 square metres.
Construction is expected to begin in the third quarter of 2016.
The land is located in the Ribarroja del Túria POS. The two new buildings will provide a minimum storage height of up to 11 metres, up to 20 per cent more storage space than standard logistics buildings.
In addition, the buildings will be equipped with LED lighting, saving up to 40 per cent in electricity consumption, and will feature a state-of-the-art fire extinguishment system.
“Our goal is to offer our clients a high-quality, well-designed and efficient product that will stand out in every way from what is on offer elsewhere in the logistics market in Valencia,” says Prologis. “We are committed to putting our model of new facility development into practice in the important logistics market of Valencia.”
“We are proud to return to Valencia and to begin rolling out new projects in a market that is becoming increasingly important in the Spanish and Southern European logistics sector”. “Our strategy for the coming years is to grow in Valencia and consolidate our position as the logistics provider of preference in this market.”