Interview with David Martínez, managing director of ProEquity
ProEquity continues its commitment to next generation developments in a country set to become a large logistics hub.
The demands of the real estate logistics market have shown to be “more active” in the first quarter of 2017 than in the first three months of 2016, which leads us to believe that the takeover of logistics spaces this year “will be greater, however slight, than in 2016”, a record year for the sector.
That is the perception of the managing director of Proequity, David Martínez, who has revealed the company’s strategy for this year and its perspectives with regards to the Spanish market to cadenasuministro.es
Although the company will continue to focus on the real estate logistics sector, it also wants to establish the development of turnkey projects of an industrial nature. “We believe there to be opportunities in that sector, because the real estate investment of these assets is not very exploited”, explains Martínez.
The managing director of Proequity, David Martínez, believes that the logistics sector will continue to be one of the most profitable in the future.
Committed to the Spanish market.
The company focuses its activity in Spain, where it operates across the nation on demand, although it has spent three years working in Santiago de Chile, managing projects in that country, as well as in Peru and Colombia primarily.
Spain has a geo-strategic position which makes it the “ideal entry point” to Europe of goods coming from North Africa and America or Asia. So demand is guaranteed: of the 250,000m² developed by the company during 2016 and 2017, 75% of the space is leased and the rest is in the negotiation stage.
Spain has some “first level transport Infrastructures” and its labour costs compared to other industrialised European countries “are competitive”. “All of this makes the country the ideal location for becoming a large logistics hub”, says Martínez.
That is why Proequity maintains its commitment to new logistics developments in the country, based on construction quality, operability and sustainability and the environment”, premises that have marked the development of projects such as the Rockspring platform in the Casablanca Industrial Estate in Torrejón de Ardoz.
Proequity is committed to new logistics developments based on construction quality, operability and sustainability and the environment.
On the other hand, the company also hopes to collaborate with land developers, including public administrations, in order to get involved in project design from the beginning.
It is also key for the real estate consultancy agency to “make it known” that the market goes beyond Madrid and Barcelona, because there are other locations that “can perfectly fulfil the expectations of any investor”. In any case, environmental certification will be required in all new projects, something that has been non-existent in the sector until very recently.
The privileged location of the Corredor del Henares
In that sense, within the Spanish market the Corredor del Henares is particularly relevant because it continues to be one of the most sought after areas for operators. In this area the company markets “first level assets” such as Rockspring Park in Torrejón, with 15,000m² available and under negotiation with several possible leaseholders.
An example of high demand in this area is Cabanillas del Campo, where Proequity has taken part in the development of 150,000m² with Inversiones Montepino, where it was able to lease the entire space before works were completed.
More to the south, the Iberum central platform in Illescas, and the Los Galivanes platform in Getafe, where the company is marketing 100,000m², are also set to see rapid growth.
Turnkey projects take precedence
Martínez explains that shortly “new projects will see the light of day, many of them are already being negotiated as turnkey”. These projects “offer a large number of benefits” that allow the operator to optimise the warehouse, because in addition to the warehouse itself other characteristics such as height, energy saving, etc. are taken into account.
Investors have realised that the real estate logistics market is more profitable, safer and has less fluctuations.
The suitability of custom solutions is particularly important in activities relating to e-commerce, a sector that has had a “very positive” impact on the real estate logistics market by increasing the demand for logistics area volumes. It has also fostered an increase in cross-docking platforms “because, in addition to storing, they have to distribute”, explains the managing director of Proequity.
The real estate logistics sector “will continue to be one of the most profitable in the future, even though investor demand has increased exponentially”. According to the managing director of Proequity, “investors have realised that the real estate logistics market is more profitable, safer and has less fluctuations” on the market.
In fact, it is possible that profits for 2017 will be “somewhat higher than those of the last few years”. Although Proequity doesn’t foresee a considerable increase in profits compared to 2016, it assures us that leaseholders are “ready to pay more” for new projects that are characterised by quality, sustainability and energy saving, aspects which are increasingly in demand.
See the Interview on the website of Cadena de Suministro:
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