Gazeley and ING Real Estate announce landmark deal to develop logistics warehouses in Spain (ES)

Gazeley, a leading global developer of logistics warehouses and distribution parks, and ING Real Estate Development have agreed a deal to develop logistics warehouses at key strategic sites throughout Spain.

Torrejon de Ardoz-SURAVIA,S.A (11)

Casablanca logistics park in Madrid.

The landmark agreement gives Gazeley exclusive access to a market leading portfolio of development opportunities in some of Spain's most coveted logistics locations.

The first phase of the agreement includes 100,000 m² of land, which is ready immediately for new development, based within the popular Casablanca logistics park in Madrid.

The announcement follows Gazeley's recent deal with world renowned fashion retailer, H&M, to build a 35,975 m² state-of-the-art distribution centre at the Casablanca logistics park. The €26 million build-to-suit facility marks H&M's continued growth within Spain and across the rest of Europe.

Jose de la Calle, Managing Director for Gazeley Spain, said: "The agreement with ING Real Estate Development has allowed us to acquire land in a prime location, with excellent transport links. This location, combined with our reputation as a trusted and reliable partner has already helped us in attracting major brands and companies to the development."

The Casablanca logistics park spanning 700,000 m² and located within easy access to the A2 motorway, is one of Spain's most sought after locations. Situated less than 15 km from the international Madrid-Barajas airport and 23 km from the city centre, the park is already home to both national and international logistics operators.

Walter de Luna, Managing Director at ING Real Estate Development, commented: "We are delighted to have signed this agreement with Gazeley and believe it is just the first step in a long lasting relationship, which will be beneficial for both parties."

Source: Gazeley

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