Sale & leaseback specialist, Gramercy Europe Limited, has acquired three warehouses in Catalonia, Spain, worth €32.25 million in two separate transactions.
Two of the warehouses are located in Constanti, south of Barcelona in an established business park and the third is located in La Bisbal del Penedès.
The assets in Constanti traded at €22.75 million and included a 24,032m² warehouse fully let to plastic company Chemiprats. It features 10 metre clear heights, 28 dock doors and 50kN per m² floor loading capacity. The other property in Constanti is a 25,930m² warehouse leased to electronic equipment distributor Micro with less than two years of obligatory term remaining on the lease. It features 10 metre clear heights, 23 dock doors and 50kN per m² floor loading capacity.
Gramercy also acquired a €9.5 million 20,120m² warehouse in La Bisbal del Penedès, south of Barcelona comprising two inter-connected buildings and featuring 12-14 metre clear heights and 20 loading docks. It is let to Naeko Logistics with 3.5 years remaining on the lease.
According to the CEO of Gramercy Europe, Alistair Calvert “The Spanish logistics market is one of the fastest growing in Europe, as tenants upgrade to modern buildings and e-commerce penetration begins to catch up with other more established Western European countries,”
Gramercy seeks to invest throughout Europe with a focus on western/northern European countries predominantly Germany, the Netherlands, France, United Kingdom, Nordics, Spain and Poland. It typically has a target deal size between €20 million and €400 million and minimum deal size of approximately €10 million with no maximum limit. Its lease type includes fully repairing and insuring (triple net) and landlord responsible for roof and façade (double net). Gramercy Europe Limited, formerly known as ThreadGreen Europe Limited, was founded in 2006 and is based in London, United Kingdom.