CB Richard Ellis -has recently said that it has advised a confidential purchaser on the acquirement of two Spanish logistics properties of 20,468 square meters and 14,501 square meters for €29 million.

This is going to be the biggest logistics agreement finalized in the Spanish market since 2007. The properties, located on the South M-50 Industrial Estate, Leganés, near Madrid, were sold by a Luxemburg-based investment fund.

While talking to reporters, National Industrial Director, CBRE Spain, Basilio González said, “After six months of intensive negotiations, CBRE successfully acquired two logistics properties on behalf of the client for a total of €29 million, at a yield of 8%. This transaction exemplifies the increased levels of industrial investment activity in Spain, which look set to continue in 2010.”

Moreover, the agreement has established a new landmark for yields in the Spanish commercial market, showing growth investor interest in the logistic areas.

Further, talking to media, Director of Cross-Border Industrial Investment, CBRE EMEA, James Markby said that the contract mirrors a wider trend of lifting industrial investment volumes across Europe.

“Industrial and logistics turnover rose by 52% from the first to the second half of 2009, taking the full-year European total to just over €6.5bn. We expect this momentum to continue in 2010, reflecting a broader recovery in investment appetite across most of Europe,” James added.