PATRIZIA AG has purchased the development of four logistic warehouses on behalf of its institutional investors for €50 million ($59 million) at a logistics park located in Valdemoro, within the greater Madrid area. The construction of the 65,800-square-meter (708,265-square-foot) development is expected to be completed by 2022.
In addition to its excellent location and transport links through the A-IV motorway, the warehouses will benefit from modular, state-of-the-art design, providing flexibility to the future tenants.
Eduardo de Roda, PATRIZIA Country Manager for Iberia, said, “The existing growth trend towards e-commerce and particularly last-mile delivery has only accelerated under COVID-19. With the increased demand for premium logistics space, the timing for this deal and the quality of these assets could not have been better.”
This latest transaction further strengthens PATRIZIA’s footprint in the Spanish logistics sector and in the Madrid regi
