Arrow Capital Partners has acquired a 16,000m² logistics warehouse in Alcala de Henares for its €3bn Strategic Industrial Real Estate (SIRE) joint venture with Cerberus. This is the fifth asset Arrow has acquired in the Corredor de Henares and the third in Alcala de Henares, further consolidating SIRE’s foothold in this strategically important area located northeast of Madrid within the city’s second logistics ring road.
Arrow will comprehensively refurbish the existing vacant asset into a modern single 16,000m² warehouse that can be split into two units incorporating a total of 21 loading docks, six van doors and a large loading area, as well parking facilities. The refurbished building will be future-proofed to meet ESG guidelines and has an expected completion date of Q4 2023.
Commenting on the development, Malgorzata de la Torre, Head of Acquisitions in Spain at Arrow Capital Partners, said: “Once the refurbishment is complete, our latest acquisition will complement the other facilities we’re developing in the area, providing occupiers with large, modern logistics space close to Madrid and its main highways. Given the limited vacancy and strong occupational market in the area, we anticipate rental growth and solid demand for this asset. We remain interested in additional select development sites, with or without zoning, which are suitable for logistics development.”
