Connect with us

Business

Iberdrola Inmobiliaria boosts its logistics business with an investment of $54 million

Iberdrola Inmobiliaria has a broad portfolio of products, both residential – first and second homes – and offices, shopping centers and industrial premises. The company currently has a portfolio of assets in operation of over 200,000 square meters of gross rentable area. The real estate company is returning to the logistic market and plans to spend $54 million on it.

Published

on

This picture show a couple of trucks parked.

At the height of the online trade boom, Iberdrola Inmobiliaria is riding the wave of the logistics market. After a nine-year hiatus, the company will once again boost its industrial business with an investment of around.

Specifically, the real estate company will allocate this capital to the development of some of its main projects that are distributed among Catalonia, Madrid, Seville, and Pamplona in Spain.

Its most recent operation has been in Barcelona, where it has closed a rental agreement on a turnkey project for Würth MODYF. The logistics centre has a gross rentable area of 7,200 m2, distributed in a warehouse with loading docks and an office area. For this operation, Iberdrola Inmobiliaria has been advised by the consultancy firm Activa Properties.

The latest Born2Invest mobile app, financial and economic news, plus insight and analysis into UK, and global markets. Stay informed with the breaking business news from around the world and across the spectrum of the Born2Invest mobile app and its business news section.

Millions square meters of land

The project will be built on the land that Iberdrola Inmobiliaria owns in the Llevant Industrial Estate in Polinyá, where companies such as Louis Vuitton, Pickin Pharma, Spralding, and Hispanox, among others, have already established themselves. Würth MODYF is the company in the WÜRTH group specializing in the supply of workwear and safety footwear.

Iberdrola Inmobiliaria currently owns more than 3.5 million square meters of land, of which a total of 1.2 million are for tertiary use, ranging from offices to shopping centers and industrial warehouses.

Major developments

In Catalonia, in addition to the land destined for operation with Würth MODYF, the company has several logistics warehouses in Tortosa (Tarragona) on the Catalunya Sud industrial estate.

SEE ALSO  9 tips for redesigning, refreshing and decluttering your website

In Madrid, it is currently developing the industrial portfolio located in San Fernando de Henares, between the A-2 and M-50, in an action that includes industrial use (between 9,931 and 28,064 m2), a service station (6,964 m2) and tertiary offices (6,352 m2). In both regions, the company also promotes office projects. In the case of Ciudad Condal, Iberdrola is building the BCN Fira District complex, which consists of four towers.

Iberdrola Inmobiliaria has obtained, following favourable reports from the Architectural and Legal Services of the Marbella Town Hall, a licence to build 41 terraced houses.

In Madrid, the company is developing the first phase of an office complex called A2 Plaza

Two of them are already operational, Torre Marina and Torre Auditori. The latter is already in the hands of Aberdeen, which paid $106 million (€98 million) for it last July. On the other hand, Torre Llevant and Torre Ponent are in the development phase, with plans to deliver them in the first quarter of 2021. Despite this, Torre Llevant already has a pre-leasing contract with Cellnex Telecom to occupy 40% of this skyscraper.

On the other hand, in the Capital, the company is developing the first phase (about 25,000 square meters) of its office complex called A2 Plaza.

In Pamplona, Iberdrola Inmobiliaria has industrial land, with a gross surface area of 129,276 m2, for the development of economic activity warehouses, which include both industrial and commercial use, services, leisure, offices, hotels, storage, and distribution.

On the other hand, in Seville, the company has a portfolio of nearly 500,000 m2 of land in the so-called Higuerón Norte sector for industrial and tertiary development.

SEE ALSO  6 universal story themes that will connect you with your customers

__

(Featured image by Marcin Jozwiak via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in elEconomista.es, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Philip Gregg is a tech biz writer, with a keen understanding of blockchain technology, Internet of Things, and cloud services. He also serves as chief consultant for an IT business in Washington and a cryptowallet startup in Tokyo. Philip holds an MBA in finance and has previously worked at a Silicon Valley company before striking out on his own. He is a dad to three German Shepherds and owns a sweet vintage Mustang he fondly calls Sadie.