European specialist logistics provider Delin Capital Asset Management has entered the Spanish market with their latest acquisition. The logistics firm recently acquired a logistics development site located in Alcala de Henares, in an undisclosed transaction.
Delin reported that it previously nine-hectare site from a private vendor, and now has a building permit for the development of a project. Rumors say that it’ll be the site for the Delin Alcala park, a 53,000m2 estate.
Real estate firm Savills says that the Spanish logistics market, during the fourth quarter of 2018, was marked by a lack of supply in the high-quality logistics subsector, and another report, this one from UNCTAD, noted that the country’s e-commerce market was ripe for new players.
In January of 2018, Delin announced its plans to up its operations in the Netherlands, as well as make acquisitions in the UK and Spain. According to the specialist logistics firm, it had made several senior hires in the UK and Spain, as well as getting into discussions, in order to see where they could stake their claim.
Delin CEO Mark Kirkland says that the experience they’ve accrued within the past years operating in the Netherlands and having assembled a team of experts with deep knowledge of the market in Spain, has given them the confidence needed to expand their operations into a new territory, which they say is an opportunity for the company.
Spain Development Director Jose Espinosa, Delin, says that the Spanish logistics market is one of the fastest growing markets in the Europe region, with e-commerce penetration notably not as prevalent as its neighbours in the region.
On top of that, he notes that there’s a continued shortage of mid and big box high-quality logistics space, especially in and around the major metropolitan areas of Barcelona and Madrid.
The logistics firm Delin was founded back in 2012, and now manages pan-European portfolios of investments, amounting to a total of nearly one million square metres of logistics space. As for the current development projects, the company’s working on about 300,000m2, with a long term development pipeline in the works, amounting to about 500,000m2.