CBRE Global Investors has bought a 36,600 m2 logistics warehouse in Setúbal, Portugal, through a sale-leaseback operation with Decathlon, on behalf of its CBRE European Industrial Fund (EIF).
Financial details were not disclosed.
The warehouse was built in 2012 to the highest standards and the most rigorous technical requirements. It is located in the great Lisbon area, in a preeminent industrial and logistics area, and is divided into 33,200 m2 of warehouses and 3,500 m2 of retail.
The premises are exclusively occupied by Decathlon and house the company’s distribution centre for Portugal.
Pierre-David Baylac, fund manager of EIF, CBRE Global Investors said: 'We are pleased to have increased EIF’s presence in Portugal. The Grade A asset which is divisible as well as having an extension capacity, is let to a strong tenant and is ideally located. It fits well within our strategy and we believe it will deliver out performance over the long term.'
With this acquisition, CBRE Global Investors increases its logistics portfolio in the Iberian Peninsula to 29 assets under management, exceeding 600,000 m2. In addition, the firm is currently sourcing further investment opportunities to increase its logistics portfolio as part of its strategy for 2016.
