Palm Logistics makes in-roads to Madrid’s last mile with 115,000m2 Gavilanes investment

27/03/2019

PRESS RELEASE:

London, 27^th March 2019 – Palm Logistics, the dedicated affiliate of Palm Capital, the pan-European real estate private equity specialist, is set to deliver a large logistics hub in Madrid, to meet the pent-up demand for modern logistics in the capital and respond to the rapid growth of e-commerce and supply chain rationalisation across Europe.

The site, covering over 115,000 square metres across 10 grade-A logistics buildings, will provide the best ‘last mile delivery’ option to Madrid while being easily accessible to the rest of Spain and across Europe.

The first phase, due to complete this summer, comprises a 33,000m² leasable area across two buildings with the ability to offer modules from 7,000m² to 20,000m². The buildings will be certified LEED Silver, having been built to the highest quality standard with key sustainability considerations in mind.

Reda Khatim, Managing Partner of Palm Capital said: “We are excited to be developing Madrid’s last mile hub in Gavilanes. A strategic site such as Gavilanes will offer world class, well-located logistics assets for regional, national and pan-European coverage. This important investment, along with our other acquisitions, such as our recent foray in Scandinavia, further demonstrates our commitment to the logistics sector; an asset class that makes up a crucial part of our current European investment strategy.

“Our Gavilanes development meets all the requirements for a high-quality logistics last mile hub to serve current and future demand for e-commerce and modern distribution needs of Spanish and international operators. We have designed an innovative site that not only exceeds current regulations but also places sustainability at the heart of our development.”

Gavilanes is located close to main roads, the airport and the Abroñigal intermodal station with its large roads and roundabouts adapted to the traffic of heavy vehicles. The site is already home to several first-class international companies including Amazon, Decathlon, Costco, Mercadona, and ID Logistics.

The investment follows Palm Logisitics’ recently completed acquisition of a large, air side logistics hub at Copenhagen airport. Currently occupied by DHL and Postnord, the Copenhagen platform offers world class last mile services to Denmark and Southern Sweden and is the start of Palm’s expansion into the Scandinavian market.

In addition to Gavilanes, Palm Capital is currently analysing several other investment opportunities in both Spain and in other key European markets, to further enhance its pan-European footprint.

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Notes to Editors:

About Palm Capital

Palm Capital was founded by Reda Khatim and is a leading pan European real estate investment and asset manager. It has offices in London and Madrid. Palm Capital currently manages over 2,500,000 sq.ft. of commercial real estate in the UK and Continental Europe.