Eurofund Logistics Capital Partners (ELCP), a joint venture of Eurofund Group and Logistics Capital Partners, has sealed a major deal with Costco Wholesale for the group’s first logistics centre in continental Europe, a 140,000 m2 grade A facility located in Torija (Guadalajara), south of Madrid.
Costco Wholesale is the third largest retailer in the world by revenue volume.
‘This is a key large scale development in Spain and is the result of ten months of collaboration, in which both parties acted together to develop the project and obtain all due licenses,’ ELCP said in a statement.
Marco Galbusera, managing director at Eurofund Logistics Capital Partners, commented, ‘This deal marks a significant milestone for the growth of ELCP as we continue to power up and strengthen both our team and portfolio to deliver best in class logistics buildings in Spain and across Europe, and creating impact in the markets in which we operate.’
The landmark 140,000 m2 site was one of the JV’s first acquisitions (in 2018) and is set within a well-established logistics park amongst large logistics occupiers such as Leroy Merlin, Primark and Bridgestone.
Diane Tucci, country manager of Costco Spain, commented ‘This important acquisition will allow Costco to open a cross-dock distribution facility to support our existing and future buildings, underlining Costco's commitment to continued growth and expansion in the Spanishmarket.’