The asset joins three other logistics properties that already form part of the Nuveen’s portfolio in Spain. In this segment, the company now owns properties spanning more than 150,000 m², worth more than €100 million. In total, it has a total managed asset volume of around €1.8 billion in tertiary assets in Spain. The company made its Iberian debut in 2017, with its first investments in Madrid and Valencia. Last year, it increased its portfolio with the acquisition of a logistics warehouse in Trapagarán (Vizcaya).
Located 25 kilometres east of Vitoria and 85 kilometres south of Bilbao, this latest warehouse is currently leased to the international logistics operator DHL Supply Chain for a period of eight years. The logistics warehouse has been operational since October 2000, and DHL Supply Chain occupies it to render logistics services to Eroski. Over the last twenty years, the characteristics and operational capacity of the asset have been expanded to reach its current gross leasable area of almost 46,000 m².