Delin Capital Asset Management (“Delin”), the European logistics investor, asset manager and developer, is pleased to announce the acquisition of a logistics development site, located in Alcala de Henares, 35 kilometres east of Madrid. The transaction was Delin’s first in Spain, a market characterised by an undersupply of high-quality logistics space and rapidly growing e-commerce penetration.
Delin previously acquired the nine-hectare site from a private vendor and has now also obtained a building permit for the speculative development of an institutional quality, multi-let 53,000 sqm estate, comprising five units, varying in size from c. 10,500 sqm to 15,600 sqm, across two buildings.
The warehouses will feature 12.2 metre clear heights, 80kN/ sqm floor loading capacity, high efficiency LED intelligent lighting, ESFR-certified sprinkler system and a BREEAM Very Good certification. To better guarantee safety, car and truck traffic will have separated entrances and exits and each unit will have dedicated car parking.
Completion is planned for Q2 2020. Delin Alcala park lies in the Henares Corridor, Spain’s largest logistics and distribution corridor. The park benefits from excellent accessibility via its location on the A2 motorway, a major arterial route that connects Madrid to Zaragoza and Barcelona, whilst Madrid International Airport is a 20- minute drive by car. The area also benefits from a ready-made workforce, with circa 600,000 people living in the local vicinity, and good public transport links.
Mark Kirkland, CEO of Delin, commented: “With the experience we gained over the last couple of years delivering new grade-A logistics space in the Netherlands and having assembled a team of experts with deep local knowledge of the Madrid market, we have a high degree of confidence that this expansion of our operations into a new territory is well timed and will allow us to extract significant upside on behalf of our investors.”