Madrid (28 July 2016) – Prologis Inc., the global leader in logistics real estate, today announced the acquisition of 70,000 square metres of development land in Valencia.
Prologis intends to develop two logistics buildings, each totalling more than 23,000 square metres. Construction is expected to begin in the third quarter of 2016.
The land is located in the Ribarroja del Túria POS, an ideal location for logistics activities. The two new buildings will provide excellent services, including a minimum storage height of up to 11 metres, which will provide up to 20 percent more storage space than standard logistics buildings.
In addition, the buildings will be equipped with LED lighting, saving up to 40 percent in electricity consumption, and will feature a state-of-the-art fire extinguishment system.
“Our goal is to offer our customers a high-quality, well-designed and efficient product that will stand out in every way from what is on offer elsewhere in the logistics market in Valencia,” said Cristian Oller, director of development and projects, Prologis Spain. “We are committed to putting our model of new facility development into practice in the important logistics market of Valencia.”
“We are proud to return to Valencia and to begin rolling out new projects in a market that is becoming increasingly important in the Spanish and Southern European logistics sector,” said Gustavo Cardozo, senior vice president, country manager, Prologis Spain. “Our strategy for the coming years is to grow in Valencia and consolidate our position as the logistics provider of preference in this market.”
Inmolking Real Estate advised on the transaction. The leasing of the buildings will be carried out by Inmoking Real Estate and BNP Paribas Real Estate.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2016, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 666 million square feet (62 million square meters) in 20 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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