Realterm Logistics, an American investment group specialising in logistics assets in the US, Canada and India, has acquired a warehouse in Palau Solità i Plegamans, Barcelona. Savills Aguirre Newman has advised on the sale of property. It is the group’s first acquisition in Spain.
The asset, a crossdock logistics warehouse, has a built area of 6,578 sq m and is located in one of the most strategic municipalities for the distribution sector thanks to its proximity and excellent connections with Barcelona. The warehouse is currently occupied by a transport company.
According to data from Savills Aguirre Newman, during Q1 2020 the volume of investment transactions into logistics assets reached over €440m across Spain. In 2019 overall, a total investment volume of around €1.65bn was achieved, of which the region of Catalonia received almost a 40% share.
Gloria Valverde, Director in the Industrial Division, Savills Aguirre Newman Barcelona, commented: “In the current climate we find ourselves in thanks to the ongoing health crisis, developer and investor interest continues to be very high in the Catalan market which is characterised by a shortage of product availability mainly due to a lack of land and general investment opportunities.
“To alleviate this situation, demand will have to be increasingly creative in the analysis of operations with the aim of entering the market: urban management, rehabilitation, transformation or search for smaller assets.”