Stoneweg has secured the acquisition of a 211,668m² industrial site in the suburbs of Madrid. The site, which was formerly a Coca-Cola plant, will be entirely redeveloped by Stoneweg to create a grade A logistics park. The major project, which has the potential to deliver over 110,000m² of logistics space, is expected to complete in early 2024. The acquisition is strategically located adjacent to the M-50, Madrid’s orbital motorway, the R-5/A-5, which connects Madrid to Lisbon, and the M-506 road southbound. The immediate area has a population of circa one million people and is home to a number of logistics and transportation companies.
Jaume Sabater, founding partner and CEO at Stoneweg said: “The Spanish market has a scarcity of grade A industrial stock and last year Madrid saw its highest take-up of warehouse space in a decade. The availability of land for logistics facilities is also difficult to come by, particularly in the capital, and this transaction is a strong example of where we were able to leverage our network of local relationships to source a rare opportunity. Recent experience of the COVID pandemic has accelerated pre-existing eCommerce trends and we believe that this development, which will be managed by our team on the ground, will deliver significant value for our investors while also providing much-needed warehouse space.”
