€3b Arrow-Cerberus to speculatively develop two warehouses in Madrid

Arrow Capital Partners, the specialist investor, developer and manager of real estate in Europe and Asia-Pacific, has acquired a 100,000-square-meter (1.1-million-square-foot) brownfield site to speculatively develop two logistics warehouses for its €3 billion ($3.02 billion) Strategic Industrial Real Estate Joint Venture (SIRE) with Cerberus.

Located in Alcala de Henares in the strategically important Corredor de Henares in the northeast of Madrid, the completed warehouses will provide occupiers with a total gross lettable area of 51,500 square meters (554,300 square feet) within 25 minutes of Madrid’s city center. Each warehouse will be divisible into smaller units with a total gross leasable area of 25,750 square meters (277,170 square feet) that includes 12-meter (39-foot) ceiling heights. Given its excellent visibility and road access, the site will have two independent entrances. Each building will have 36 loading docks, as well as 35-meter (115-foot) yard depths. T