Rockspring signs lease with Spanish supermarket group Mercadona following completion of Barcelona logistics park acquisition

Feb 2018

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Following the completion of its newly developed logistics park near Barcelona, Spain, acquired in a forward-purchase transaction from developers Goodman, Rockspring Property Investment Managers LLP (“Rockspring”) has signed a lease for the asset with Spanish supermarket group Mercadona.

Modular in design, the asset in Sant Esteve Sesrovires is BREEAM-certified and comprises 29,000 sqm of GLA on a self-contained site. The specification includes 12-metre eaves heights, 32 hydraulic loading docks and provision of on-site parking facilities. The park is located on one of Barcelona’s newest industrial estates, Can Margarit, which lies some 35 km to the west of Barcelona city centre in a strategic position which provides swift access to both the AP7 and A2 motorways, enabling efficient distribution to the local, national and international markets. Other occupiers currently operating on the estate include Amazon and Decathlon.

Mercadona, which has leased the asset in its entirety, is Spain’s largest supermarket operator with a strong and growing presence throughout the country. This new facility will provide support to the new logistics hub Mercadona is developing in Abrera, Barcelona. Currently the company has 14 such hubs, three of them under development, supplying their network of more than 1,600 stores throughout Spain.

John Thompson, Managing Director of Rockspring Iberia said:

“To have secured a top-quality institutional tenant of the calibre of Mercadona for our newly developed state-of-the-art Can Margarit facility is a reaffirming vindication of our strategy to take on speculative logistics development – in this case in partnership with leading sector specialist Goodman – in selected key locations across Iberia. The greater Barcelona market remains significantly under-supplied with modern logistics facilities capable of satisfying current occupier demand, which itself is in rude health. Looking ahead, we fully intend to continue to selectively exploit this market anomaly as opportunities arise.”

Rockspring was advised by Hogan Lovells on the legal side and by CBRE and Estrada & Partners on the leasing.

 

Rockspring