Savills Investment Management (Savills IM) has acquired two logistics warehouses in Madrid from UBS Asset Management for €51.56 million.
Savills IM said the transaction represents a total of 34,970 sqm in GLA distributed across two logistics assets. Both warehouses are fully tenanted by logistics operator XPO Logistics and Cadyssa Douglas.
Built in the Logistics Park in Leganés in 2008, the assets are ideally located for domestic, international and e-commerce logistics operators, in Madrid’s first logistics belt. They also offer direct access to the M-50 ring road, with quick links to all of the main regional and national highways.
“We are delighted to have completed this acquisition, which is a clear reflection of our significant investment interest and capacity in the Spanish and Portuguese logistics segment. Savills IM prioritises modern assets located near the main highways and transport networks and occupied by tenants on robust, long-term leases, allowing us to harness the potential offered by the sustained growth in e-commerce,” said Fernando Ramírez de Haro, Managing Director of Savills Investment Management for Spain and Portugal.
The company said the newly acquired assets represent the latest addition to its portfolio in the Iberian peninsula, which comprises a total volume of c. €1 billion AuM.