Panattoni has bought El Corte Inglés’ logistics platform in La Bisbal del Penedès, the province of Tarragona, after successfully bidding in a sale managed by BNP Paribas Real Estate, according to the logistics-industrial developer.
The company, advised by JAP Lawyers, Freshfields, Arcadis and Torrella Ingeniería, has acquired a warehouse and land to develop new facilities since the plot’s surface area measures about 230,000 m2.
Panattoni plans to build two new industrial buildings on the rest of the undeveloped plot, with a rentable area of around 110,000 m2, and refurbish the existing 45,000 m2 building. The project also allows for developing a single warehouse with a rentable area of 180,000 m2.
The project’s cost is estimated at around 135 million euros. It is located in the third logistics ring of Barcelona, at the intersection of the AP-7 and AP-2 highways.
