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MADRID-GE Real Estate Iberia has acquired a fully leased 118,400-sf logistics warehouse here from Riofisa. The sale price was $15.54 million. The building is located in the Olivos Ampliación Industrial Estate in Getafe, next to the N-IV Andalusia motorway. The tenant is TG Plus, a delivery and logistics specialist.

GE Iberia is a business unit of GE Commercial Finance. GE Iberia managing director Marcelo Horcel says the warehouse is the fourth logistics property the company has acquired since the start of 2005. It also is the second warehouse acquired from Riofisa, which recently sold GE Real Estate a neighboring warehouse leased by Logista.

"The logistics market is a highly attractive sector for us, owing to the growth prospects of the Spanish economy and the potential returns that logistics assets deliver," Horcel says. "So we continue to search for similar properties as part of our ongoing strategy to grow our presence in the Spanish and Portuguese real estate markets."