Nuveen acquires Spanish logistics warehouse for its European Logistics platform

Nuveen Real Estate has acquired a logistics warehouse located in Valle de Trápaga (province of Vizcaya) on behalf of its European logistics platform to further grow its logistics portfolio in Spain.

The warehouse spans 8,020 square meters (86,000 square feet), of which 7,260 square meters (78,000 square feet) is storage area and the remaining 760 square meters (8,180 square feet) is office space.

Located 10 kilometers (6 miles) from Bilbao city center, the asset is extremely well connected to the rest of the city’s metropolitan area, to its port (the fourth busiest in Spain) and to the airport, the most important in the region. The warehouse is currently let to a leading international company under a long-term lease.

Built in 2019, on a plot spanning 21,650 square meters (233,000 square feet), the asset has excellent modern