20 March 2018 – Eje Prime
The largest logistics operator in Valencia has moved into the most sought-after industrial estate in the Mediterranean city. ‘Improving Logistics’ has installed itself in Ribarroja with 30,000 m2 of logistics space, after signing up to lease three warehouses in the complex.
With assets measuring 14,000 m2, 9,000 m2 and 7,000 m2, respectively, ‘Improving’ is seeking to continue with its growth plan in the multi-customer logistics segment. The Valencian operator already occupies a surface area of more than 110,000 m2 in the province.
On the El Oliveral Industrial Estate, the company has leased a logistics warehouse spanning 7,000 m2 and a logistics platform with a constructed surface area of 14,000 m2, whilst the other warehouse it has leased is located on the Sector 14 industrial estate, also in the town of Ribarroja.
‘Improving’ has grown by up to 60% in recent years, which has pushed it up the ranking of the main logistics operators in Valencia. Created in 2003, the company operates at the international level, rendering services ranging from storage, customs warehousing, sea and land transportation, and real-time management of logistics processes.
Last year, the industrial park in Ribarroja accounted for 80% of all of the investments made by the sector in the metropolitan area of Valencia. There, Mercadona signed one of the largest purchases of logistics spaces in the autonomous region, with the acquisition of more than 23,700 m2 of land. In total, 107,000 m2 of space was purchased on this industrial estate in a dozen operations, according to a report compiled by BNP Paribas Real Estate.
With this new operation, Valencia is also consolidating its position as one of the regions of the country with the highest volume of logistics space leased. In 2017, the autonomous region saw a record 220,000 m2 of space leased, and now it is starting to experience problems in terms of a shortage of prime assets, with an average availability rate of 4.3%.
Original story: Eje Prime
Translation: Carmel Drake
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Source:: AURA Real Estate Experts