The international real estate consultancy firm JLL has advised Log In on the purchase of a 12,000 sqm industrial warehouse located in the Las Atalayas Industrial Estate in Alicante. For its part, the Alicante-based consultancy firm Equilibra Property Investments has advised the seller.
The buyer is Log In, a French Real Estate Investment Company (SCPI) dedicated to industrial and logistics real estate throughout Europe, managed by Theoreim in association with Principal Asset Management SM as a pan-European investment and asset manager.
The industrial building is leased on a long-term contract to Blinker, a company specialising in materials and services for professional repair, maintenance and installation.
With a total surface area of around 12,000 sqm, the building has large office areas and a robotised warehouse.
The warehouse is located in an enclave that is well connected to the main regional infrastructures: situated on the road that connects Alicante with Madrid, 10 minutes from the port of Alicante and 10 minutes from the airport and the city centre. Companies such as the Famosa Group, DHL, Correos, Moldtrans, Pikolin, El Corte Inglés, Seur and Nacex have their facilities in this location.
"Our presence in Spain has made it possible to complete this acquisition in a short time," said Guillaume Masset, Head of Transactions for Principal Real Estate in Europe. "Other investments are also underway, particularly in Italy and the United Kingdom. The company's presence in eight European countries allows us to support it in its diversification".
David Brown, Director of Capital Markets Logistics at JLL Spain said: "We have closed this transaction in the fast-growing Alicante province where more and more users and 3PLs are looking to establish themselves to service their customers. Currently, there are several active logistics developments in the area and investment activity is growing".
For his part, Pedro Menarguez, founder and investment director at Equilibra Property Investments says: "Alicante is going through a great moment and for that reason investors are betting on this attractive area of eastern Spain. This is thanks to its strengths, such as its magnificent communications, by land, sea and air, and its economic and business dynamism due to the growth of exports and tourism".
