Prologis, Inc., the global leader in industrial real estate, today announced it has signed a 139,000 ft² (12,913 m²) build-to-suit agreement in Madrid with TNT Express, one of the world's largest express delivery companies and a repeat customer.
The facility will be located at Puerta de Madrid, a Class-A logistics park 15 minutes from the Madrid city center and adjacent to Madrid–Barajas Airport. The park has direct access to the A2 corridor, which links Madrid, Barcelona and Zaragoza and is one of the most attractive logistics areas in the Spanish market.
"We are pleased to extend our relationship with TNT to six markets on three continents," said Francois Rispe, regional head, Prologis Southern Europe. "This agreement reflects the lack of supply of Class-A logistics facilities in Madrid. As the market recovers, our well-located land bank will be attractive to customers seeking expansion or relocation opportunities."
Prologis is the leading provider of industrial real estate in Spain, with approximately 9.6 million ft² (891,134 m²) of logistics and distribution space as of September 30, 2014.