Global alternative asset manager Brookfield and logistics services provider Logistik Service have teamed up to build a large logistics warehouse in Ontígola, near Toledo, Spain.
Located on a 128,000 m2 plot of land, the warehouse will have 80,000 m2 with the option to expand to 110,000 m2. It will be located in the Dehesa de la Plata industrial estate and is expected to be finished by the summer 2025.
The warehouse will have features such as 75 loading docks, a large maneuvering area, and high ceilings (13.70 metres). It will also have modern offices, parking, and environmental certifications (LEED Gold and WELL Gold).
The location is ideal for logistics because it is close to major transportation hubs and other logistics hubs, especially those in Andalusia and Levante. In addition, it is located 45 minutes from Madrid and the Adolfo Suárez Madrid-Barajas airport. This project will further solidify Ontígola's position as a key logistics center near Madrid.
Alberto Nin Garaizabal, managing director, Brookfield, said: ‘This is one of the largest developments in Spain this year. The project highlights our commitment to building high-quality logistics assets in the country and delivering solutions at scale for our relevant tenants. The Ontigola area has excellent connections and this new platform will support the economic growth of the area and create jobs for the local community.’
Javier Muniesa de Caveda, development director of Logistik Service, added: ‘This project is an important milestone for our company in its objective of becoming the reference company in the Spanish logistics real estate market. After several years and several logistics projects in this municipality, this project reinforces its location as one of the key centers for logistics activities in our country.’
Real estate consultancy Proequity played a key role alongside CBRE in setting up the Brookfield-Logistik Service joint venture. Proequity also secured the deal for leasing the logistics warehouse.
In January, the joint venture started construction work on a logistics warehouse for ESP Solutions on an 85,000 m2 site in Alhama de Murcia.
