Eurofund Logistics Capital Partners (ELCP) has closed a major deal with Costco Wholesale to develop the US conglomerate’s first logistics centre in continental Europe.
The asset, a 140,000 m2 grade A facility located in Torija (Guadalajara), near Madrid, is set within a well-established logistics park among large logistics occupiers such as Leroy Merlin, Primark and Bridgestone. The site was one of ELCP's first property acquisitions on the Continent in 2018.
This large scale development is the result of ten months of collaboration between the parties together with the construction engineering Ingeniería Valladares, Broadway Malyan and Krean as technical teams.
Marco Galbusera, Eurofund Logistics Capital Partners managing director, commented, ‘This deal marks a significant milestone for the growth of ELCP as we continue to power up and strengthen both our team and portfolio to deliver best in class logistics buildings in Spain and across Europe, and creating impact in the markets in which we operate.’
Diane Tucci, country manager of Costco Spain, commented ‘This important acquisition will allow Costco to open a cross-dock distribution facility to support our existing and future buildings, underlining Costco's commitment to continued growth and expansion in the Spanishmarket.’
