Logicor signs 30,000 sqm Madrid warehouse lease with DIA Group
Logicor, a leading owner and operator of modern logistics facilities in Europe, has agreed a long-term 30,000 sqm lease with DIA, the Spanish listed supermarket chain.
Although the positive momentum we have seen in the Spanish investment market is starting to filter through into the occupier market, the lack of availability of larger logistics units in Madrid has put pressure on occupiers to secure the best opportunities. I look forward to expanding our working relationship with DIA across Spain over the months ahead.
Manel Vericat, Managing Director - Southern Europe, Logicor.
The lease is for a substantial part of a 37,000 sqm warehouse within the Miralcampo Logistics Park. The building was acquired by Logicor at the beginning of 2014. Miralcampo Logistics Park is within the Henares Corridor, the main Madrid logistics location. It benefits from excellent motorway connectivity to the centre of Madrid (40km) and Barajas International Airport (35km).
Logicor is one of the largest operator of logistics real estate assets in the Iberian Peninsula, with a portfolio of 825,000 sqm.
JLL Spain advised Logicor.
I am delighted we have secured this lease with such a significant customer as DIA. This validates our investment strategy of acquiring functional assets in core logistics locations in close proximity to urban areas which have strong appeal for our customers.
Mo Barzegar, CEO & President, Logicor.
Logicor, Blackstone's European logistics platform, is one of the premier real estate companies in Europe focusing on the ownership and operation of modern logistics and distribution properties. Logicor currently owns in excess of 6.7 million square metres of space in properties across key markets in 12 countries.