The international real estate investment and management firm, Hines, has acquired a plot of land in San Fernando de Henares, Madrid, with the aim of building a new logistics centre. This purchase was made through its Hines European Property Partners (HEPP) fund and is the fund's second acquisition in Spain, following the purchase of a logistics asset in El Prat (Barcelona) a few months ago.
The 40,000 square metre site is located in an industrial estate in San Fernando de Henares, with easy access from the M-50. It is 20 kilometres from Madrid and 15 kilometres from Adolfo Suárez-Madrid Barajas airport. Hines plans to build a 25,000 square metre warehouse, which can be divided into units from 5,000 square metres to meet the needs of different tenants. The space will include 34 loading bays, ample manoeuvring areas and will have a clear height of more than 11 metres.
With regard to the construction, the company says that high quality standards will be followed, seeking to obtain certifications such as BREEAM Excellent and Fit Well, in addition to achieving a net zero carbon emissions target.
Hines was advised by EY Tax, Garrigues, Knight Frank and Savills, while Andersen and Isolán assisted the vendor.
Jorge Duarte, Managing Director and Fund Manager of HEPP, said: "We have a clear strategy to continue investing our capital in the European logistics sector, where we see an opportunity for long-term value creation, with a continued need from logistics operators for flexible and quality space. We will continue to invest in Spain due to its enormous attractiveness, in segments such as Living, offices and retail, and the appetite of investors for quality and well-located logistics space.
Vanessa Gelado, Senior Managing Director and Country Head of Hines Spain, commented: "With this acquisition, Hines continues to be firmly committed to the logistics segment in Spain, where we already have more than 175,000 square metres. The San Fernando de Henares industrial estate stands as one of the best logistics parks in Madrid, in a privileged location such as the first ring road, which is situated on a crucial transport axis. The Spanish logistics market is not losing its strength or its appetite for investment, with very solid supply and demand fundamentals".
