The developer and asset manager Freo, together with the investment firm Pictet, have reached a joint investment of EUR 170 million in Spain after acquiring a logistics warehouse in Esparraguera, northwest of Barcelona. The deal marks their fifth joint transaction in the country.
The project in Esparraguera, scheduled for completion by the end of 2026, includes the demolition of the existing building - formerly a distribution centre for the Flex mattress brand - to make way for a modern facility designed to high standards of quality and sustainability.
The new warehouse will offer more than 22,000 square metres of rentable space, with 1,000 square metres of office space. In addition, it will have 21 front loading bays, 3 side loading bays and a height of over 12 metres, responding to the growing demand for logistics space in an area with a vacancy rate of close to 3%.
Strategically located 32 kilometres from Barcelona, the warehouse will have direct access to the A2 motorway, as well as connections to the A7 towards Madrid, Valencia and France, which increases its attractiveness for the logistics sector.
The operation has been backed by various entities: the real estate consultancies Forcadell and CBRE, the technical support of Gleeds and Onilsa, the legal advice of Simbor, the urban planning advice of Jagomi and the tax support of the Pérez-Llorca law firm.
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