JLL has advised VGP on the acquisition of an 80,000m² plot in the suburb of Fuenlabrada, in the south of the Madrid region. VGP plans to invest €25 million in the development of a 50,000m² logistics park to be finished by early 2020.
Fuenlabrada is an important logistics hub with 81,000m² of GLA leased up by operators. VGP’s project will contribute to double the amount of logistics space available. According to Pere Morcillo, director of Industrial and Logistics at JLL «at the moment, this is the only active development project in Madrid’s second metropolitan».
Madrid and Barcelona’s logistics markets are organized in three metropolitan concentric rings “coronas” that concentrate the different types of activity and products that the logistics platforms manage.
Operators focus along the main logistics axes and specifically, in Madrid these include the main highways: A-2, A-3, A-4 and A-42. In Barcelona the activity is mainly located along the A-2 and AP-7. The operators are located in various tranches according to the type of merchandise and their reach; whether it is regional or national / international.