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GLP to Acquire 300,000 m2 of Logistics Land in Spain

GLP has 150,000 m2 in operation for the time being and will focus its expansion through the acquisition of land, though it has not ruled out the possibility of acquiring existing facilities.

GLP desarrollo en España

The logistics asset developer GLP announced its expansion plan for Spain. In total, the company plans to acquire 300,000 square metres of land per year, according to GLP’s general manager in Spain in an interview with Cinco Días. These purchases would allow the company to build logistics assets with 150,000 square metres of surface area.

Óscar Heras confirmed that they have €3 billion available for “immediate investment” through two funds: one for developing warehouses and the other for acquisitions. Mr Heras added that GLP is not in a hurry and will be conservative in their investments: “There is a whirlwind of funds and capital interested in investing in the sector. They are paying outrageous sums.”

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