Spanish group acquires 100,000m2 of land in Plaza, with a purchase option for 98,000 more

The Zaragoza Logistics Platform (Plaza) Board of Directors, chaired by the Minister of Economy, Industry and Employment, Marta Gastón, this morning approved the sale of two plots to a Spanish business group. The sale was brokered by the CB Richard Ellis consultancy and consists of 100,000m² in the railway area and a sale option of another 98,000m² opposite the first plot. The intention of this group, dedicated to property leasing, is to build warehouses for logistics work. The purchase agreement on the plots acquired (ALIF 2.2 and 2.3) considers the possibility of building to the maximum height allowed in Plaza (16m). The size of the operation is comparable to that of 2010, when Plaza signed an agreement with Decathlon (for 91,000m²), the BSH group (124,000m², in 2009) and the Inditex group (200,000m², in 2003). The last sale operation signed by the public company was last November with TXT (for 15,000m² of land). However, Plaza management considers that this last operation as well as its large size will act as a driving force for the Platform, due to the foreseeable “drag effect” it is expected to cause. This also means the railway area is now almost completely occupied, where containers from Spanish ports are brought in, and – as with other areas in Plaza – goods are sent from Zaragoza to Bilbao, Valencia, Madrid and Barcelona and surrounding area. The buyer group will work in the area currently occupied by BSH, Pikolín and JCV Shipping & Solutions groups.