Hines has acquired several plots of land in the Corredor del Henares submarket from a local proprietor. The land is adjacent to the industrial and office complex of Airbus Defence and Space S.A.U it had purchased in June 2020, creating a plot totalling 103,940m².
The property spans 54,338m² and faces the A2 highway, a five-minute drive from Madrid’s airport and 20 minutes from Madrid city centre.
With the acquisition, HGIT intends to build a high-quality logistics park covering more than 65,000m² in one of the most densely populated areas of Madrid to meet significant last-mile e-commerce demand. The project will target BREEAM (Build Research Establishment Environmental Assessment Methodology) Excellent certification, demonstrating its commitment to sustainability.
Omar Thowfeek, managing director of investments for HGIT, commented: “This acquisition and expansion of our current investment in Madrid will help create the most efficient layout for a best-in-class last-mile logistics complex in a prime location with strong transport connectivity.”
Vanessa Gelado, senior managing director and country head of Hines Spain, added: “Corredor del Henares is considered one of the best locations in Madrid to establish a state-of-the-art logistics park. Thanks to its premier location, the project will have the potential to be a key logistics last mile hub with great visibility.”
The acquisition has been financed by Banco Santander, which will also finance the development.