Trammell Crow buys fourth site in Spain to develop logistics asset

Trammell Crow buys fourth site in Spain to develop logistics asset

Global commercial real estate developer and investor Trammell Crow Company (TCC) has acquired a 21,360 sq m (229,917 sq ft) site in Granollers near Barcelona, its fourth site in Spain, to develop a Grade A logistics asset.

On the site, known as CORE Granollers II, TCC will develop one building divided in two parts that will offer 14,114 sq m (151,921 sq ft) of warehouse, office and mezzanine space.

The site is a short distance from TCC’s first acquisition in Spain, and benefits from quick access to the AP-7 and C-17 motorways, with Barcelona’s port and airport a 37-minute and 40-minute drive away respectively.

TCC has two additional sites in Spain, in Cabanillas and Alovera in Guadalajara, where it will develop a 36,232 sq m (389,998 sq ft) and a 49,149 sq m (529,035 sq ft) warehouse respectively. TCC also has three sites in the UK, two in Germany and one in the Czech Republic.

Thierry Bougeard, Head of Iberia Logistics at Trammell Crow Company, said: “Our growth in Spain reflects the strength of the product we’re bringing to the market: Grade A logistics assets in excellent locations with strong ESG credentials. Acquiring our fourth site in Spain demonstrates our continued appetite to expand, as we remain confident that we have the expertise and resources to continue maximising the opportunities in the market. We thank our partners who have been instrumental in helping us reach these milestones at our sites in Granollers, demonstrating the strength of our partnership approach.”