Eurofund Logistics Capital Partners closes major deal with Costco Wholesale to develop its first European fulfilment centre in Spain
Located in Torija, along Madrid’s western A2 corridor, the 140,000 sqm grade A logistics facility will be COSTCO’s first logistic centre in Europe
Eurofund Logistics Capital Partners (ELCP) has closed a major deal with Costco Wholesale for the international chain of membership warehouses’ first logistics centre in continental Europe, a 140,000 sqm grade A facility located in Torija (Guadalajara), one of Southern Europe’s prime logistics corridors, along the strategically-important prime A2 Henares Corridor at 75 km from Madrid.
Costco Wholesale, the third largest retailer in the world by revenue volume continues its strong growth and expansion across Spain and continental Europe. This is a key large scale development in Spain and is the result of ten months of collaboration, in which both parties, together with the construction engineering Ingeniería Valladares, Broadway Malyan and Krean as technical teams , the advisory of TPC-The Property Company and the legal support of Evergreen Legal and HSF-Herbert Smith Freehills, acted together to develop the project and obtain all due licenses, with thanks also to Torija's Council for their diligence and professionalism to facilitate such a large operation.
Marco Galbusera, Eurofund Logistics Capital Partners Managing Director, commented, “This deal marks a significant milestone for the growth of ELCP as we continue to power up and strengthen both our team and portfolio to deliver best in class logistics buildings in Spain and across Europe, and creating impact in the markets in which we operate.” Diane Tucci, Country Manager of Costco Spain, commented "This important acquisition will allow Costco to open a cross-dock distribution facility to support our existing and future buildings, underlining Costco's commitment to continued growth and expansion in the Spanish market."
Southern Europe prime logistics hub
Torija is strategically located in the Henares Corridor, the most important logistics Hub in the Madrid influence area due to its connection to Zaragoza, Barcelona and France and is an important place of transit for goods distribution between Europe and Africa, with the main logistics, distribution and e-commerce companies located in it.
The landmark 140,000 sqm site was one of the JV’s first acquisitions (in 2018) and is set within a well-established logistics park amongst large logistics occupiers such as Leroy Merlin, Primark and Bridgestone.
Notes to editors
Dan Innes, Innesco
+44 7973 387 545
About Eurofund Logistics Capital Partners (ELCP)
ELCP joint venture was set up in February 2017 between Eurofund Group – one of the largest shopping centre developers, managers and investors in Spain, and Logistics Capital Partners, a pan-European Developer and Asset Manager specialising in logistics real estate, with offices in the UK, Spain France, Italy, Netherlands, Belgium, and Luxembourg. Currently LCP has 10.2 million sq ft of income producing assets under management and a secured development pipeline of 19 million sq ft of logistics warehouse across 7 countries.
The primary focus of the JV is to combine Eurofund’s local market knowledge, access to technical teams and established relationships with local authorities and retailers with LCP’s expertise in logistics real estate development, asset management and logistic occupier relationships to deliver new logistics warehouses in Spain and Portugal.
Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the "Costco Wholesale" name, that carry quality, brand-name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. The warehouses are designed to help small- to medium-sized businesses reduce costs in purchasing for resale and for everyday business use. Individuals also may purchase for their personal needs.