SEGRO has added to its Spanish portfolio with the acquisition of prime logistics sites in Barcelona and Madrid.
The company’s SEGRO European Logistics Partnership joint venture has bought an eight-site portfolio with the scope to develop some 2.5m sq ft of warehouse pace during the coming years.
Marco Simonetti, SEGRO’s Southern Europe business unit director, said the deals “significantly expand our footprint in Spain”.
Five of the assets are in Barcelona, including development sites in Cerdanyola del Vallès, Terrassa, Palau-Solità i Plegamans, Viladecans and an existing warehouse in the Polinyà municipality that is already fully let.
The sites in Madrid are in Paracuellos, close to Madrid Barajas Airport, with two sites in San Fernando de Henares and Villaverde.
In a recent interview with EG, Andy Gulliford, SEGRO’s chief operating officer, pointed to Spain, alongside Italy and the Netherlands, as a country in which the company sees “opportunity to grow, cluster and get critical mass”.
Gulliford said: “There is still an agenda for growth. But our efficiency is really in knowing areas very well and being quite large in those areas.”
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