Barings, on behalf of its second real estate European value-add fund (BREEVA II), has acquired a 210,000-square-meter (2.3 million-square-foot) plot of land in a prime location near Lisbon from Saint-Gobain Group, where it will develop one of the largest logistics parks in Portugal.
The scheme will consist of 85,000 square meters (914,932 square feet) of best-in-class logistics space with a flexible layout and will target high sustainability credentials, including BREEAM Excellent and carbon-reduction certificates. Located in Santa Iria de Azoia, an area with a lack of class-A logistics supply in Portugal’s capital, Barings will develop the scheme with one of Europe’s leading logistics real estate developers as development manager.
The site is in the Lisbon urban area, which is seeing growing logistics demand as evidenced by a class-A vacancy rate of almost 0 percent. The scheme has access to main distribution roads, such as the A1 and the A30, and has strong publ
