Industrial real estate developer Panattoni has unveiled its first project in Spain, weeks after opening a new office in the country.
The firm has acquired land in Torija near Madrid and announced that construction of Panattoni Park Madrid East, with more than 28,400 m2 of space, will start in the first half of 2020.
Spain had already started easing lockdown measures resulting from the Covid-19 crisis, and started reopening construction sites from mid-April.
The site for the new scheme is a 30 minutes’ drive from Madrid, next to the A2 motorway in the Guadalajara province. The facility will be suitable for warehousing and logistics operations and will have 28 docks and more than 140 parking spaces.
The project has already been granted the Breeam sustainable certificate for the construction phase.
Gustavo Cardozo Lupi, who leads the project as Panattoni's managing director for Spain and Portugal, said: 'Despite the current context, Panattoni is firmly committed to the market in Spain, materialising in this first investment in Panattoni Park Madrid East.
'The scheme offers our clients a high quality and environmentally friendly logistics building at the most competitive rental price in the market in Corredor del Henares, a highly strategic location.'
In March, Panattoni appointed development manager Carlos Cuevas Serrano to its new Spanish team, working alongside Lupi.