Engel & Völkers Development is strengthening its operations in the Spanish logistics sector, specifically in the south of Madrid. The company will build two last-mile centres for LaSalle Investment Management for €52.6 million.
The warehouses will have a total surface area of more than 40,000 square metres on a 70,000-m2 site. The two centres will be delivered in 2023, according to an agreement by both parties.
The assets will be developed in the Villaverde park, located in one of the most important industrial and logistics corridors in the south of Madrid, in a strategic location next to the A-4.
The coronavirus crisis “has highlighted the importance of logistics in today’s society, where the growth of online commerce is unstoppable,” says José Antonio Ruíz-Berdejo y Sigurtà, executive chairman of Engel & Völkers Development Spain, who recalls that e-commerce is still relatively limited in Spain compared to other European countries.
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