LONDON – 16 June, 2016 – CBRE Global Investors has bought an XL logistics platform in Miralcampo, Spain, on behalf of its CBRE European Industrial Fund (EIF).
The 61,000 sqm logistics warehouse is located in Azuqueca de Henares, in the Henares corridor, near Madrid. It has direct access to the A-2 Madrid-Barcelona motorway, one of the main logistics hubs in Spain.
The platform has been fully let to French hypermarket Carrefour since it was built in 2002. It has been designed to meet Carrefour’s requirements but has flexibility to be reconfigured for single or multiple occupier use in the future.
The acquisition falls in line with European Industrial Fund strategy to invest in prime logistics properties across Europe, creating a leading investment portfolio of logistics hubs let to top tier tenants.
Pierre-David Baylac, Fund Manager of EIF for CBRE Global Investors, said: “Miralcampo offers a prime location from which to serve Madrid or set up a national supply chain strategy. This location in combination with its size positions it strongly for future trends as we see requirements for extra-large facilities close to main population centres increasing.”
José Antonio Martín Borregón, Managing Director of CBRE Global Investors Spain and Portugal, said: “Logistics in Barcelona and Madrid are one of our preferred European investment themes at present as we see a shortage of modern facilities and strong demand driven by e-commerce. With our strong team on the ground, we continue to source similar opportunities for our clients."
CBRE Global Investors now has 28 logistics assets under management in the Iberian Peninsula, which total more than 500,000 sqm.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.7 billion in assets under management* as of March 31, 2016. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.