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GE Real Estate Acquires Warehouse in Spain

BARCELONA-GE Commercial Finance Real Estate Iberia pays $14.3 million for about 180,000 sf of industrial space that is 60% leased.

By Brian K. Miller | Updated on January 26, 2006

BARCELONA-GE Commercial Finance Real Estate Iberia has acquired 179,735 sf of logistics space near here for $14.31 million (euro $11.65 million). The seller was Gamex Real Estate SL.

The property includes 166,130 sf of warehouse space in two buildings and 12,605 sf of industrial-style office space, a source familiar with the deal tells GlobeSt.com. The property is 60% leased. Tenants include Glory & Pompea SA, which occupies 53,765 sf, and Distribuciones Codina SL, which occupies 55,003 sf. GE Real Estate declined to comment on the remaining lease terms of the tenants.

The development is located in the El Raiguer Industrial Estate, located at Exit 13 of the AP7, 15 miles from Barcelona on the Autopista del Mediterraneo, which runs between Barcelona and France.

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