Savills Investment Management has acquired two logistics warehouses in Madrid from UBS Asset Management for €51.56 million ($60.4 million). The newly acquired assets represent the latest addition to Savills IM’s portfolio in the Iberian peninsula, which comprises a total volume of €1 billion ($1.2 billion).
The transaction represents a total of 34,970 square meters (376,400 square feet) in GLA distributed across two logistics assets. Both warehouses are fully tenanted by logistics operator XPO Logistics and Cadyssa Douglas.
Built in the Logistics Park in Leganés in 2008, the assets are ideally located for domestic, international and ecommerce logistics operators, in Madrid's first logistics belt. They also offer direct access to the M-50 ring road, with quick links to all the main regional and national highways.
Fernando Ramírez de Haro, managing director of Savills Investment Management for Spain and Portugal, said, “We are delighted to have complete
