Roebuck Asset Management has acquired a last mile development in Madrid for Grupo Sesé, with the aim of converting it into a strategic hub for last mile delivery as well as airport related services.
The site, which is located in Torrejón de Ardoz and will be 15,352 sqm in size, is expected to be substantially completed in the fourth quarter of 2023 and will be fully leased on a long term basis to Sesé.
Charlie Barnes, Investment head of Roebuck in Europe, explained: “Torrejón de Ardoz, together with San Fernando, is one of the most important urban logistics parks in Madrid, serving a population of over 7 million people. The acquisition puts even more emphasis on our idea of working closely with the occupiers, being one of our goals to grow together with the best 3PL operators.”
Victor Gregori, managing director of Roebuck, comments: “Entering the Madrid logistics market has been a strategic priority for our JV, Ultima Milla. Our objective is to consolidate and expand our portfolio through a granular policy of acquiring highly functional assets in locations with favourable supply and demand dynamics.
The deal value has not been disclosed, but according to market sources could reach €20 million.
Garrigues advised Roebuck with a Barcelona and Zaragoza offices team led by Real Estate partner Juan José Berdullas, together with senior associates Antonio Ciprés, Javier Alvarenga, Rodrigo De Salazar and Javier Monserrat.