The development will mark the fifth investment in Spain in which both KPE and Panattoni have attained as longstanding JV partners. The asset allows flexibility to combine one or several purposes, with current plans to house offices across 2,000 sqm of the development.
As part of KPE’s ESG strategy, the acquisition will be built to BREEAM ‘Very Good’ guaranteeing high sustainability standards throughout the complex, some including a photovoltaic plant, low-consumption lighting installations and electric chargers to supply clean energy to electric vehicles. Torija’s industrial complex is already home to international brands including Primark and Bridgestone, among others.
Daniel Bumpstead, Head of European Investments, said: “This acquisition marks KPE’s fifth development project in Spain alongside Panattoni, following our strong track record of high-quality logistics assets in strategic locations. Spain is a key market in our European expansion plan and offers capital growth driven by demand growth and the lack of available Grade A logistics warehouses.”
