Engel & Völkers Development Spain closes forward funding deal with LaSalle Investment Management for logistics project in Villaverde

Two new state-of-the-art and sustainable warehouses will be built in the Villaverde logistics park over the next two years. They will have a total surface area of over 40,000 square metres, set on land spanning 70,000 square metres. The project will be realised by Engel & Völkers Development Spain. It was sold to LaSalle Investment Management for 52.6 million euros as part of a forward funding deal. “This project reflects our mission to focus on modern and energy-efficient logistics properties. And it fits seamlessly with our successful growth strategy in the Spanish market. We create added value for all parties involved by combining sustainability, the best rental conditions and attractive investment opportunities for our investors,” says José Antonio Ruiz-Berdejo y Sigurtà, Executive President of Engel & Völkers Development Spain.

Hamburg - Two new state-of-the-art and sustainable warehouses will be built in the Villaverde logistics park over the next two years by Engel & Völkers Development Spain.

Sustainable logistics real estate is on trend 

The Villaverde logistics park is located close to the A-4 motorway (Carretera de Andalucía), one of the most important industrial and logistics corridors to the south of Madrid. With its very good transport links to the nearby city centre and to national motorways, Villaverde is the ideal location for last-mile logistics. Engel & Völkers acquired its first plot of land here in October 2019. All projects realised by Engel & Völkers Development Spain adhere to strict energy efficiency and sustainability standards, both in the supply chain and during construction. A BREEAM certification rating of “excellent” is being sought for the new warehouses in Villaverde. Based on the “LaSalle Green Clause”, which will be included in the lease agreements, future tenants must undertake to comply with the required emission limits and environmental standards. The rental units in the modular warehouses can be flexibly adapted to meet clients’ needs and will range in size from 2,500 to 20,000 square metres. 

“It became particularly clear during the coronavirus crisis just how vital logistics is in our modern society. Warehouses and logistics real estate are becoming increasingly important in this country and are profiting from the growth in online retail,” says José Antonio Ruiz-Berdejo y Sigurtà, adding: “Compared to the European average, e-commerce in Spain still accounts for a very small part of the market. So the logistics sector offers a particularly high potential for growth.” With the new construction projects, Engel & Völkers Development is playing a significant role in the revitalisation of Villaverde as an industrial centre and logistics hub.

Engel & Völkers Development Spain is currently in exclusive negotiations for the acquisition of a further 100,000 square metres of land to realise new developments around Madrid. The company is planning further projects in metropolitan regions such as Barcelona, Bilbao, Málaga and Valencia.

About E&V Development Spain 

The business segment Engel & Völkers Development, a license partner of the Engel & Völkers Marken GmbH & Co. KG, has been operating in Spain since October 2019 and is focused on the development and realisation of construction projects. Based on customised concepts, these projects are implemented from the acquisition of land plots to the procurement of planning rights, through to the construction and brokerage of the development itself. The segment is specialised in the realisation of sustainable residential, commercial and logistics real estate.

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