In just six years, Montepino has become the largest logistics developer specialising in build-to-suit (BTS) projects in Spain, and one of the 10 largest in Europe.
Since 2014, the developer and asset manager has developed over a million square metres of Gross Leasable Area (GLA) to be used for logistics, and by the end of 2021, its portfolio will feature 23 properties with a total value of nearly €1 bn. With figures such as these, it's no wonder that Montepino is becoming the best-known logistics developer with the fastest growth on the market, as well as one of the asset managers with the highest value creation.
The client: the linchpin of the business
Montepino has focused its efforts on professionalising the logistics sector in Spain through a business plan in which the client is the linchpin of company development. Its team has over 20 years of experience; within the Spanish sector, Montepino has the largest in-house technical and management team, which enables it to meet the needs and desires of its tenants, maintaining a relationship based on trust and personalised customer service with each individual tenant. This approach has allowed the company to develop long-term relationships with its clients. While the average WAULT to break within the sector is some 2 or 3 years, the average WALT across Montepino's portfolio is over 8.3 years.
The company’s full portfolio consists of a range of contracts with local and international clients, including one of the largest global textile groups, several multinational logistics companies and a leading e-commerce company. These challenges have seen them maintain a sustained share of 45% of the build-to-suit market while also optimising returns to investors with net yields of over 25%, data that demonstrates their strong position within our country and the prelude to their launch onto the European market.
Montepino’s technical and management team maintains a close collaboration with all clients throughout the real estate process, which is key to fully adapting to clients' needs and thus contributing towards their growth, as well as responding to other equally important factors such as the exponential growth of online sales. All Montepino properties have been built within very tight deadlines, the average being nine months, and all are tailor-made for each client, with wider spaces and heights adapted to the present-day reality for logistics.
This larger storage capacity in square metres provides higher flexibility for logistics buildings, together with designs for the land which allow mega trailers to access the buildings, among other factors. Moreover, the entire portfolio is situated in strategic locations, primarily distributed along the most important national and international access routes in both the Mediterranean and Atlantic sides of the country.
Big Box and last-mile hubs
The full portfolio, which has an average age of under two years, comprises a set of attractive assets, featuring Big Box or XXL logistics hubs as well as smaller urban distribution hubs for cross-docking and last-mile delivery, located very close to the largest cities. These are state-of-the-art logistics hubs, assets designed within homogeneous, new and modern quality parameters for both technology and environmental sustainability, allowing tenants to provide most efficient services with a lower ecological impact, at the forefront of innovation, security and sustainability within the sector. The entire portfolio consists of Grade A buildings, with every asset meeting international standards for fire protection as well as environmental certifications. The full portfolio has been LEED-certified for quality and sustainability, while part of the portfolio also meets the Factory Mutual (FM) standards for fire protection.
Every hub meets these standards of excellence as a result of the work put in by Montepino, which is blazing a trail towards stronger market performance. This company, which was born from the vision and efforts of Juan Vera just 18 years ago, has today become the leader of the logistics sector in Spain and one of its largest asset managers, with an internationalised team that trusts in its talent and in innovation to create value in the logistics sector.