CBRE Investment Management, on behalf of a fund sponsored by the firm, has acquired a 90,000-square-meter (645,835-square-foot) state-of-the-art, prime logistics development in Pinto, Spain.
The development comprises two new class A logistics assets, available to let. Located in Pinto, 21 kilometers (13 miles) south of Madrid’s city center, the versatile scheme can be targeted at both last-mile logistics and regional distribution tenants. The development has achieved LEED Gold and BREEAM Gold certification.
The development offers occupiers easy access to densely populated neighborhoods and southern suburbs of Madrid. Pinto is part of Madrid’s Ring 2 logistics area but is adjacent to Ring 1.
“This was a rare and exciting opportunity to acquire a Grade A logistics portfolio in a prime location,” said Antonio Roncero, head of transactions Iberia at CBRE Investment Management. “In Spain, demand for newly built, flexible warehouses in consolidated logistics
