Patrizia has forward purchased the development of four logistic warehouses on behalf of its institutional investors for €50m at a logistics park located in Valdemoro, within the greater Madrid area. The construction of the 65,800m² development is expected to be completed by 2022. In addition to its excellent location and transport links through the A-IV motorway, the warehouses will benefit from the modular, state-of-the-art design, providing flexibility to the future tenants.
Eduardo de Roda, Patrizia Country Manager for Iberia, said: “The existing growth trend towards e-commerce and particularly last-mile delivery has only accelerated under Covid-19. With the increased demand for premium logistics space, the timing for this deal and the quality of these assets could not have been better.”
