The Spanish industrial/logistics real estate market has been deeply affected by the economic and financial crisis since 2008. The investment volume and the number of transactions have dropped significantly. Nevertheless, Colliers successfully positioned and sold a logistics asset on behalf of Gazeley, the longest running logistics developer in the world. The warehouse is located in the consolidating logistics area known as Dehesa de la Plata Industrial Park, to the South of Madrid.
This sale is in line with the business carried out by Gazeley, who design build to suit logistics solutions, to be firstly let to grade A tenants and later either sold to an investor or held long-term as an asset under management.
The logistics asset comprises two prime logistics warehouses let to Ceva on long term lease contracts, built to modern and very high quality specifications. Both logistics warehouses comprise 55,657 sqm on two sites of 81,431 sqm.
An international real estate funds management, GLL Real Estate Partners GmbH (GLL), made the purchase.