16 October 2018 – Gazeley, a leading investor and developer of logistics warehouses and distribution parks, announced today that it has re-entered the Spanish market opening a new office in Madrid and making an initial acquisition of 75,000 SQ M of land in Illescas, Madrid.
The re-entry to the market marks Gazeley’s first involvement in Spain since it sold its assets in 2016, marking a hugely exciting time for Gazeley as it continues to grow under GLP’s ownership. Oscar Heras, Head of Construction at Gazeley, who has been with the Company for over ten years, will be taking the role of Director in Spain.
Following the acquisition of 75,000 SQ M of land in Illescas, Gazeley will be developing a 36,000 SQ M warehouse which will share Gazeley’s unrivalled sustainability credentials that it exemplifies in other markets. This development will be completed in 2019.
The central location of the new site allows easy access to all other parts of the country, as well as key transport links to Madrid allowing easy access for the local workforce.
Oscar Heras, Director, Spain said: “This is an incredibly exciting time for Gazeley as we re-enter the Spanish market at a time where there is more demand for logistics warehouses than ever before. We look forward to continuing to grow in Spain as we deliver best-in-class facilities to new and existing customers.”
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Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 17 million square foot portfolio concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands. In addition to its operating portfolio, which is 96% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 16 million square feet. Gazeley is GLP’s Europe platform.
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 700 million square feet globally.
For further information about Gazeley please go to www.gazeley.com
For further information about GLP please go to www.glprop.com