CBRE Investment Management Acquires Two New Logistics Centres in Spain

CBRE Investment Management, on behalf of a fund sponsored by the firm, has acquired two logistics centres in Spain. ITERCON, a specialist design and construction company developed the two logistics centres in Madrid and Toledo. The projects were started in March 2023 and have a combined gross leasable area of more than 30,000 sq m.

The first logistics centre is located in the Madrid municipality of Camarma de Esteruelas, in La Raya industrial park, near the A-2 motorway that connects Madrid with Barcelona. It is a 16,644 sq m GLA building on a 25,400 sq m plot. The building includes an office area of more than 500 sq m distributed over two floors, with 16 loading bays and 13.70 metres at its highest interior point.

The second logistics warehouse is located in Illescas (Toledo), one of the main logistics hubs in Spain. The 15,816 sq m SBA building is located on a 24,680 sq m plot, including a Camarma warehouse and over 500 sq m for offices, spanning two floors. The warehouse has 18 loading bays. ITERCON has developed over 12 warehouses in this area since 2016.

Antonio Roncero, Head of Transactions Iberia at CBRE Investment Management said: "We have materialised two unique investment opportunities adding high-quality assets to our logistics portfolio. This is a sector that is key to CBRE IM’s growth strategy and continues to show positive operating results, especially in locations near Madrid, due to the high demand from operators and the scarcity of quality supply. Both assets have excellent locations, are very close to motorways, and incorporate high sustainability criteria, so they are well positioned to capitalise on the positive trajectory of the logistics sector."

Sustainable Construction

The logistic centres have been developed incorporating strict sustainability criteria to obtain the BREEAM New Construction certification level Very Good. These measures included the implementation of green areas, PIR type thermal insulation in the office area and the installation of charging points for electric vehicles in the private car park. Similarly, the roof of both buildings has been fitted with an area for the installation of renewable energy systems, such as solar panels to reduce the building's carbon emissions.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $144.0 billion in assets under management* as of March 31, 2024, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.