ProLogis to Increase Spain Presence with Sale/Leaseback Deal

MADRID-The European Properties Fund of distribution Center provider ProLogis has entered into a sale/leaseback agreement for a 123,677-sf facility at Centro de Trasportes Coslada here. Current owner Geodis Teisa houses its main Madrid-area parcel sorting and distribution operation at the complex.

“ProLogis’ primary focus is to assist its customers in streamlining supply-chain networks by optimizing their real estate assets,” says John Derweduwe, ProLogis country officer for Spain. “The combination of high-quality facilities and being located in global distribution markets, as demonstrated at Centro de Trasportes Coslada, allows us to deliver on that promise.”

The acquisition furthers an aggressive European strategy by ProLogis this year, including another major development in Madrid. The company is currently building Park Alcala, located roughly 15 miles outside the city on the main Madrid-Barcelona highway. The complex will provide 1.2 million sf of distribution space.