Global logistics developer and investor Gazeley has completed a 36,000 m[sup]2[/sup] distribution centre for fashion retailer Hennes & Mauritz near Madrid. The build-to-suit property cost EUR 25 mln to build and has been leased to H&M for a period of 24 years.
Global logistics developer and investor Gazeley has completed a 36,000 m2 distribution centre for fashion retailer Hennes & Mauritz near Madrid. The build-to-suit property cost EUR 25 mln to build and has been leased to H&M for a period of 24 years.
Gazeley said it delivered the property 11 weeks ahead of schedule, after a construction period of 37 weeks. The distribution complex has achieved LEED Silver certification and will be taken into operation from mid-July.
Gazeley is part of Economic Zones World (EZW), a global developer and operator of economic zones, technology, logistics and industrial parks under the Dubai World Group. Gazeley was established in 1987 and has developed around seven million m2 of distribution and logistics park space worldwide to date.
