Redevco reinforces logistics conviction with dual IOS acquisitions

Redevco has expanded its Spanish logistics footprint with the acquisition of two fully let Industrial Outdoor Storage (IOS) assets in Madrid and Barcelona, strengthening its pan‑European logistics platform and underlining its conviction in the resilience and long‑term growth of the sector.

Northgate, Getafe Madrid

The assets comprise a vehicle rental depot in Getafe, Madrid, and a newly redeveloped EV bus terminal in Sant Boi, Barcelona. Both properties are let to long‑standing tenants and generate attractive income returns, with further opportunities for value creation.

Hugh Macdonald‑Brown, head of logistics at Redevco, said Spain continues to demonstrate strong fundamentals for logistics, supported by high occupier demand, limited availability of well‑located land and the critical role of transport‑oriented assets in urban supply chains. He added that the acquisitions reflect the strength of Redevco’s deal sourcing and execution in Iberia, where the firm is building a high‑quality portfolio in core locations.

The Getafe asset totals 153,292 sq ft across a 4.6‑acre site and is fully let to Northgate (Zigup PLC), which has operated there since 2008. The tenant has invested significantly in the property, which benefits from strong connectivity to major highways and central Madrid.

In Barcelona, the Sant Boi asset comprises 122,881 sq ft across a 3.0‑acre site and is fully let to Monbus, a long‑established regional and airport transport operator. The site sits close to Barcelona‑El Prat airport and has been redeveloped to support the tenant’s transition to electric mobility, including the installation of high‑capacity charging infrastructure.
With these acquisitions, Redevco’s IOS footprint has grown to 5.5 million sq ft and €175 million of assets under management across 13 assets, as the firm continues to scale a pan‑European logistics platform focused on core markets and supported by structural urban logistics tailwinds.