US logistics specialist Realterm Logistics has made its first foray in the Spanish market with the acquisition of a cross-dock logistics facility in Palau Solità i Plegamans, Barcelona.
The deal, which was brokered by Savills Aguirre Newman involves a 6,578 m2 warehouse asset, fully let to an unnamed transport company.
Financial details were not disclosed.
Gloria Valverde, director in the Industrial Division, Savills Aguirre Newman Barcelona, commented: ‘In the current difficult climate, developer and investor interest continues to be very high with the Catalan market being characterised by a shortage of product availability mainly due to a lack of land and investment opportunities.’
She added: ‘To alleviate this situation, demand will have to be increasingly creative in the analysis of operations with the aim of entering the market: urban management, rehabilitation, transformation or search for smaller assets.’
Also this week, Mileway, the logistics arm of US giant Blackstone, completed the purchase of a logistics asset in Dos Hermanas near Seville for an undisclosed amount. The deal, brokered by Savills Aguirre Newman, was structured as a sale-and-leaseback transaction with Sandton Capital Partners on behalf of occupier, Pansur.
The asset provides around 5,649 m2 of gross space on a 10,000 m2 lot in La Isla logistics area.
