Arrow Capital Partners has acquired a 30,000 m2 brownfield site in the Corredor de Henares in Madrid to speculatively develop into a 16,000 m2 logistics facility.
Project Alcala is Arrow’s first build-to-own logistics development in Spain for its €3 bn Strategic Industrial Real Estate (SIRE) joint venture with Cerberus.
Located within Madrid’s outer ring road, the new warehouse will meet strict sustainability criteria, including BREEAM ‘very good’ rating.
SIRE is looking to deliver the completed facility by the end of 2024 and is also seeking more urban logistics development opportunities in Spain, including forward funding local logistics development partners.
Commenting on the development, Malgorzata de la Torre, head of Acquisitions in Spain at Arrow Capital Partners, said: ‘This development is ideally located to meet strong prevailing demand for logistics space on the outskirts of Madrid. It is also indicative of our ambition to acquire more well located land to develop logistics assets across Spain’s central and regional cities.’
JLL represented the vendor.