Valfondo Investment Management, the manager of Montepino's logistics assets and one of the leading asset managers specialising in logistics in Spain, has closed the purchase of two million sqm of land for Montepino in the town of Illescas, Toledo, with the capacity to build 950,000 sqm of GLA. This is the largest logistics land transaction in Spain in recent years.
The purchase of this land also means the acquisition of 98% of the Industrial Park 'Los Pradillos II', where this macro project is located. A successful operation to which must be added the start of works on the first two projects in this area: two Big Box platforms that will be completed in the third quarter of 2023.
One of the differentiating characteristics of all the projects that will be developed in this new logistics space is that they will have high levels of comfort and habitability, seeking to change the way in which the user relates to the building. They will also be built according to sustainable and efficient construction criteria, aspiring to the highest category of LEED certification for the buildings and BREEAM Urbanism certification for the urban development project.
A 150,000 sqm building designed for the well-being of its users
On the one hand, work has already begun on the largest logistics building in this area, which will have a built surface area of 150,000 sqm on a plot of 240,000 sqm.
The project, in addition to being the largest in the industrial estate, will mark a turning point in terms of improving the wellbeing of its users. The building, which has green spaces, a gymnasium and canteen, among others, is designed and intended to create a healthy, sustainable and comfortable working environment. It will be completed by the end of summer 2023.
Another of the projects already under construction is a Big Box platform being built on a 76,000 sqm plot of land, which also includes a development area with a parking area (up to 375 parking spaces) and green areas. It also has annexed service buildings, including a 2,600 sqm office complex overlooking the Bobavilla stream.
This project, in which an investment of 41.5 million euros is being made, consists of a total of 43,000 sqm built on the ground floor and 36,000 sqm of mezzanines that will house intralogistics areas and a robotisation area. It is expected to be completed in September 2023.
More than 250,000 sqm of GLA to be developed by 2022
With this logistics land operation in Illescas, Valfondo is taking another step forward in the growth strategy planned for Montepino; by 2022 the company is developing more than 250,000 m2 of GLA and has reached the target of developing more than 250,000 sqm of GLA. 250,000 sqm of GLA and has already reached 100% occupancy of the operating assets in its portfolio, which is made up of a total of 36 assets distributed along the country's main logistics corridors, especially in the central area and the Mediterranean area, platforms with a value of 1,153 million euros as at 30 June 2022, with a forecast closing value of 1,255 million euros as at December 2022.
