Pimkie has sold to Prologis its 19,000m² logistics center in the Catalonian county of Vallès Oriental, between Montmeló and Granollers.
Prologis has paid €12 million for the logistics warehouse and plans to extend it adding an extra 2,600 square meters to the asset. The new logistics center is expected to be operational in 2021.
In Spain, the California-based REIT has a portfolio valued at over €1.3billion and 1.3 million square meters with an objective to reach two million by 2022.
The REIT has been active in Spain since 1999 and last year it bought a logistics portfolio from Spanish REIT, Colonial, adding an extra 473,000 square meters for €425 million. In addition the US REIT purchased a 58,000m² from Kefren.
With this sale, Pimkie advances in its plan to exit the Spanish market following the filing of an Employment Regulation File (ERE) last march.