M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has let c. 8,500 sq m of industrial warehouse space in Lezama, Spain, to Belgicast International by AVK Holding, a European leader of water management.
This new lease brings the c. 90,000 sq m urban logistics portfolio in Spain, which M7 compiled in 2022 on behalf of Oxford Properties Group (“Oxford”), a leading global real estate investor, developer and manager, to 100% occupancy.
Belgicast International has signed a 15-year minimum lease for the space which will serve as its headquarters as well as a key distribution hub in the highly sought after market of the north and east of Spain. M7 undertook an active asset management strategy to upgrade the sustainability performance of the asset, targeting an improved BREEAM ‘Very Good’ rating, as well as value-add capital expenditure initiatives to upgrade the space.
Situated in Lezama, the property is strategically located 20 km from the Port of Bilbao, a hub port in the centre of the Atlantic, benefitting from excellent connectivity to transport links and infrastructure.
Since the portfolio was acquired, M7 has completed three leases totalling 40,000 sq m across buildings in prime logistics hubs within the three key cities of Barcelona, Bilbao and Tarragona, demonstrating the strength of occupier demand.
You can now read the full press release at the link below
