news—01.25.2023

Clarion Europe Advances Barcelona Pipeline in Esparreguera, Valls, and Santa Perpetua

Press Release

Complex grey industrial buildings with a large parking lot

​​​​​​​Clarion Partners Europe, the real estate investment fund manager (the “Company”), is pushing ahead with its significant development pipeline in Spain, constructing c.65,000 sqm of Grade A logistics space across three schemes in and around Barcelona.

In Esparreguera, a prime Barcelona logistics location 41km west of the city centre, Clarion Partners Europe has started construction of a 22,000 sqm, Grade A logistics warehouse, due to complete in Q2 2023. The BREEAM Excellent targeted property will have clear heights of 11m, 25x dock doors and 262 parking spaces, and be suitable for single-tenant occupiers seeking distribution capabilities across the Barcelona/Catalonia region. The property is a short drive from the A-2 motorway and Barcelona city centre (40 min) and El Prat International Airport (30 min). Grupo Lar is acting as development manager.

In Santa Perpetua, a prime Barcelona logistics location 24km north of the city centre, Clarion Partners Europe acquired a c.18,000 sqm plot on behalf of a comingled fund it advises. The Company is planning to bring forward the development of a single-tenant, c.12,000 sqm unit, due to complete in Q1 2024. Targeting a BREEAM Excellent certification, it will be suitable for a wide range of businesses. The property is 30 minutes’ drive time from the city centre and 35 minutes from Barcelona’s El Prat International Airport. The AP-7, the main Spanish Mediterranean highway connecting Barcelona to Malaga, is 3km away. Grupo Lar is acting as development manager.

In Valls, located between Barcelona and Tarragona, Clarion Partners Europe started construction of a 21,000 sqm and 9,000 sqm warehouse, with the scheme expected to be delivered in Q3 2023. The buildings are being constructed to modern standards, including 11.5m clear heights, 32 dock doors, and over 300 parking spaces. The development is targeting a BREEAM Very Good certification and will feature solar photovoltaic panels and LED lighting. Carbonell Figueras is acting as development manager.

Clarion Partners Europe currently (on behalf of its clients) owns, manages, or has under construction a total of 20 assets totalling 412,000 sqm, in and around the key conurbations of Madrid, Barcelona, Seville, and Zaragoza.

Thorben Schaefer, Director of Clarion Partners Europe, commented: “Over the next 18 months we will deliver c.65,000 sqm of highly sustainable logistics space into supply constrained Spanish markets, reflecting our conviction in one of Europe’s fastest growing e-commerce regions. The reconfiguration of supply chains continues with businesses requiring the distribution facilities that allow them to access more customers in shorter timeframes, meaning our portfolio is well positioned to be a beneficiary of this demand.”

-ENDS-​

Please find further information on the individual schemes here:
Esparreguera Logistics Park – Logistic Park Barcelona
Logistics Park Valls

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Investment in real estate is speculative and involves significant risk. For more information about certain of the material risks and limitations associated with Clarion Partners’ investment advisory products, strategies and services, please see Clarion’s current Form ADV Part 2A brochure, which is available on the SEC’s Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

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