Hines Global acquires land in Madrid for logistics park project

Hines Global acquires land in Madrid for logistics park project

Hines Global Income Trust (HGIT) has purchased several plots of land in Madrid’s Corredor del Henares submarket from a local proprietor.

Hines said the land is adjacent to the industrial and office complex of Airbus Defence and Space S.A.U it had purchased in June 2020, creating a plot totaling 103,940 square meters.

The property spans 54,338 square meters and faces the A2 highway, a five-minute drive from Madrid’s airport and 20 minutes from Madrid city center.

With the acquisition, HGIT intends to build a high-quality logistics park covering more than 65,000 square meters in one of the most densely populated areas of Madrid to meet significant last-mile e-commerce demand.

The project will target BREEAM (Build Research Establishment Environmental Assessment Methodology) Excellent certification, demonstrating its commitment to sustainability.

Omar Thowfeek, managing director of investments for HGIT, commented, “This acquisition and expansion of our current investment in Madrid will help create the most efficient layout for a best-in-class last-mile logistics complex in a prime location with strong transport connectivity.”

Vanessa Gelado, senior managing director and country head of Hines Spain, added, “Corredor del Henares is considered one of the best locations in Madrid to establish a state-of-the art logistics park. Thanks to its premier location, the project will have the potential to be a key logistics last mile hub with great visibility.”