21 May 2019 – Gazeley, a leading investor and developer of logistics warehouses and distribution parks, today announces the development of a new 28,500 SQ M warehouse, G-Park Valls, near Barcelona in Spain. The land acquired for the project was prepared for development by INCASÒL, the Catalonian public body responsible for implementing the government’s land, housing and industrial development policies in the region.
The new warehouse will target logistics, distribution and ecommerce companies and will be available for occupation from March 2020. This development marks Gazeley’s first investment in Catalonia and third in Spain since re-opening its office there last year.
The warehouse will be optimised for maximum storage space with a clear height of 11.7 metres, 28 dock doors and separate access for vehicles and pedestrians. The building will have a BREEAM Very Good certification reflecting Gazeley’s commitment to developing sustainable spaces across its European portfolio.
The area, within Barcelona’s third ring road, is a well-known logistics hub in the region and already a Spanish home to some of the largest brands in Europe including both IKEA and Frigicoll. The site has excellent transport links being situated only 25km from the port of Tarragona and 90km from Barcelona airport.
Oscar Heras, Director, Spain, Gazeley, said: “Since re-entering the Spanish market last year, we have been looking at a range of opportunities where we can utilise our leading development team to bring exceptionally high-quality buildings to our customers. We have seen a growing demand for space in this region due to its exceptional transport links and proximity to key markets. We are confident that this warehouse will be in high-demand as we go through the development process.”
Gazeley was represented by Invertica.
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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, Spain and the Netherlands. In addition to its operating portfolio, which is 98% 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 a leading global investment manager specializing in logistics and related technology investments, with US$64 billion of assets under management in real estate and private equity funds around the world. The Company’s real estate fund platform is one of the largest in the world, spanning 73 million square meters (785 million square feet). In 2019, GLP was recognised by Private Equity Real Estate (PERE) as Global Firm of the Year and Logistics Investor of the Year.
INCASÒL -the Catalan Land Institute- and Cimalsa -Logistics centres in Catalonia- are two public companies belonging to the Government of Catalonia related to the Catalan Ministry of Planning and Sustainability which participate in implementing the government’s land, housing and industrial development policies, controlling timing, quality and economic balance. INCASÒL commercialises 1 million square meters for economic activities and manages 3.5 million square meters n different phases of development.