Clarion Partners Europe is moving forward with its development pipeline in Spain, constructing around 65,000 sq m (circa 699,654 sq ft) of Grade A logistics space across three schemes in and around Barcelona.
In Esparreguera (pictured), the real estate investment fund manager has started construction of a 22,000 sq m (circa 236,806 sq ft) Grade A logistics warehouse, due to complete in Q2 2023. The property, which is targeting a BREEAM Excellent rating, will be suitable for single-tenant occupiers. Grupo Lar is acting as development manager.
In Santa Perpetua, Clarion Partners has purchased an 18,000 sqm (circa 193,750 sq ft) plot on behalf of a co-mingled fund it advises, for the development of a single-tenant, 12,000 sq m (circa 129,166 sq ft) unit due to complete in Q1 2024. Grupo Lar is also acting as development manager.
In Valls, located between Barcelona and Tarragona, Clarion Partners has also started construction of a 21,000 sq m (circa 226,042 sq ft) and 9,000 sq m (circa 96,875 sq ft) warehouse, with the scheme expected to be delivered in Q3 2023. The development is targeting a BREEAM Very Good certification and will feature solar photovoltaic panels and LED lighting. Carbonell Figueras is acting as development manager.
Thorben Schaefer, director of Clarion Partners Europe, said: “Over the next 18 months we plan to deliver around 65,000 sq m of highly sustainable logistics space into supply constrained Spanish markets, reflecting our conviction in one of Europe’s fastest growing e-commerce regions.
“The reconfiguration of supply chains continues with businesses requiring the distribution facilities that allow them to access more customers in shorter timeframes. We believe our portfolio is ideally positioned to be a beneficiary of this demand.”
