Prologis Leases 12,350 Square Metres to Correos Express in Barcelona
Barcelona (30 November 2017) - Prologis, Inc. the global leader in logistics real estate, today announced it has signed an agreement with Correos Express, a delivery subsidiary of Correos, to lease a 12,350 square meter building near Barcelona.
The property is located in Santa Perpètua de la Mogoda at Merchandise’s Central Integrated (CIM Vallès), 20 kilometres from the centre of Barcelona. The park, situated in the metropolitan area of Barcelona, is known for its quality, security, geographically convenient location and direct connections to both the AP-7 and C-17 motorways. This enables Correos Express to offer their clients a more efficient postal and collection service.
Correos Express is an existing Prologis customer with leases at Sant Boi (Barcelona) and Barajas (Madrid). They’ve specifically chosen Prologis Park CIM Vallès for its road-based transport conditions and surrounding infrastructure network. Additionally, this new facility increases their potential for merchandise processing, vehicle distribution and collection, and trailer accessibility.
“This transaction affirms the foresight we had upon acquiring this property in 2016. We aim to continue offering similar investment opportunities to expand our presence in Spain, which has been a secure and economically prosperous environment for us in recent years,” said Gustavo Cardozo, Country Manager, Prologis Iberia. “Prologis and Correos Express are leading companies in their respective sectors. This agreement reinforces both their commercial relationship within Spain as well as consolidates their growth in the important metropolitan area of Barcelona.”
"The new Barcelona facility represents a commitment to growth and continues to increase our distribution capacity. This new building is part of our investment plan to improve and automate all of our facilities. We strive to build on our position as a trusted partner to our customers by offering even better distribution capacity and greater flexibility in demand. We are consolidating our position as the largest non-franchised transport network in Spain,” adds Manuel Molins, general director, Correos Express.
Invertica Real Estate Solutions advised on the transaction.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2017, the company owned or had investments in, on a wholly owned basis or through 2 co-investment ventures, properties and development projects expected to total approximately 687 million square feet (64 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers across two major categories: business-to-business and retail/online fulfillment.
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ABOUT CORREOS EXPRESS
Correos Express, the postal subsidiary of the Correos Group, works on a subsidiary-based business model, providing short turnarounds and quality management. The company utilizes more than 3,000 collaborators, 2,500 vehicles and 100,000 square metres of platforms to manage 40 million annual shipments. In addition, with the support of the Correos Group, it has access to a greater market network, allowing Correos Express to deliver to more than 8,000 Spanish municipalities each day.