Delin Capital Asset Management enters Spain

Delin Capital Asset Management has acquired a logistics development site, located in Alcala de Henares, 35 kilometers (22 miles) east of Madrid.

The transaction was Delin’s first in Spain, a market characterized by an undersupply of high-quality logistics space and rapidly growing e-commerce penetration.

Delin previously acquired the 9-hectare (22-acre) site from a private vendor and has now also obtained a building permit for the speculative development of an institutional-quality, multitenant 53,000-square-meter (570,000-square-foot) estate, comprising five units, varying in size from 10,500 square meters to 15,600 square meters (113,000 square feet to 167,900 square feet), across two buildings.

Completion is planned for second quarter 2020.

“The Spanish logistics market is one of the fastest growing in Europe, with e-commerce penetration considerably lower than many of its Western Europe neighbors. At the same time there continues to be a shortage