Photo Collected from Palm-M40.es
The so-called «largest last-mile logistic park in Madrid», is located in the municipality of Villaverde and has a total built area of 98.975 sqm on a 170.000 sqm terrain which offers logistic areas starting at 3.500 sqm.
According to consultant BNP Paribas Real Estate which advised the operation, this logistic park was developed in 2 stages, with the first stage offering areas between 3.500 sqm and 51.823 sqm, and the second stage offering 47.152 sqm for key in-hand projects.
PALM M-40 possesses the LEED GOLD energetic certification and it is the first state of the art logistic park in Madrid. This platform was built to meet Madrid’s urban logistic demand, which has been growing along with e-commerce.
Fernando Sauras, National Director for Industrial and Logistic Investment at BNP Paribas Real Estate stated: «At BNP Paribas Real Estate, we do not doubt that PALM M-40 will become a reference in terms of logistics within the city of Madrid and that it will contribute towards the consolidation and transformation of the current stock into high-quality logistic areas within Madrid’s metropolitan area. This will undoubtedly help prepare the city for the clear growth of e-commerce, made clearer by Covid-19».
Operation shows logistic segment’s resilience
The conclusion of this operation during the Covid-19 crisis confirms the logistic segment’s resilience and the interest from investment funds which continue to bet on this segment, the consultant pointed out in the same document.
The keys for this growth lie on the rise in demand for logistic spaces for rental, thanks to the increase in online shopping, the segment’s professionalisation, the good prospects it shows and the attractive returns it offers, around 5%, compared to other traditional segments such as offices and high-street retail (3.25% - 4.00%).
For the end of the year, contracting is expected to be set at around 700.000 sqm in the centre of the Peninsula, which will place this year as the third-best on the historical record, behind only 2017 and 2018. The investment volume registered until now is 740 million euro, which allows us to predict that the year will end with an amount close to 1 billion euro.
