Clarion Partners Europe acquires Madrid warehouse

Clarion Partners Europe has acquired a 37,160-square-meter (399,987-square-foot) newly built, institutional-grade warehouse near Illescas Yeles, south of Madrid.

The acquisition continues Clarion Europe’s strong 2020 during which it has collected all rent due, including the period since the Europe-wide lockdown commenced in March. In addition, and reflecting the strength of its occupier markets, it has recently signed new lease agreements/renewals on more than 150,000 square meters (1.6 million square feet) with a further 71,000 square meters (764,000 square feet) due to sign imminently.

The build-to-suit Madrid property, which was completed earlier this year, is leased to Mediapost Spain, part of La Poste group, one of the largest postal and courier companies in Europe, on a seven-year double–net lease.  Also a 153-space parking area is on the property.

The Illescas market is strategically located 40 kilometers (25 miles) south of Madrid center, offering