Brookfield Asset Management Ltd and Logistik Service are developing a modern refrigerated warehousing logistics hub in Southern Europe for ESP Solutions as part of their joint venture. The facility will be located on an 85,000-square-meter plot in Alhama de Murcia, Spain.
The joint venture project, brokered by ProEquity, entails a 17-year lease with planning permission for up to 40,000 square meters of built-to-suit warehousing space. The first phase of development will consist of a 20,000-square-meter cold logistics premise with top-of-the-range refrigeration and freezing facilities.
The second phase will see the development of an additional 20,000-square-meter warehouse dedicated to future logistics operations, with the site 100% pre-let to ESP Solutions.
With the Murcia region being Spain’s largest producer and exporter of agrifoods, the expansion is a strategic move for ESP Solutions and complements the company’s existing operations in Murcia and Valencia.
“We are delighted to be supporting the expansion. The new cold storage facilities will be essential for the organization to deliver exemplary logistics solutions to its customers, as well as support economic growth in the region. We look forward to partnering with Logistik Service, combining our development expertise and strong ESG credentials to deliver high-quality assets,” said Dan Benhamou, senior vice president at Brookfield.
Javier Muniesa de Caveda, development director at Logistik Service, commented: “We are very proud of the start of this innovative project in Alhama de Murcia. The creation of a cold platform marks a significant step forward in our ongoing commitment to operational excellence and customer success. This facility is also the first step in a strategic alliance between Brookfield and Logistik Service and is an important milestone in our shared focus on environmental sustainability.”
