Logistics woos investments
Real estate companies are currently developing new logistics infrastructure of more than 300,000 square meters and with at least 300 million euros in total investment.
This is the second generation of such projects, as most groups in the sector have already developed, purchased and started operating hundreds of thousands of square meters of infrastructure in the 2020-2022 period.
Such are the prospects of this particular real estate category that executives from one of the largest US investment banks recently visited Greece to scan the local logistics sector, with the aim of placing capital of the order of €1 billion in the next three to four years.
However, despite the broad development of new infrastructure, the Greek market remains too small, at least to be able to meet such demands. The investment interest is significant, since, according to a recent survey by the Bank of Greece, the sector with the best outlook for the next two years is transit and warehouses of high technical and technological specifications, especially in locations close to Athens and Thessaloniki, adequately served by port infrastructure and the road or rail networks. This is how the important investment programs of real estate companies are explained, which are estimated to be worth more than €300 million.
On Wednesday, international investment company Everty proceeded to acquire two logistics centers in Aspropyrgos, western Attica, with a total area of 33,000 sq.m., which are leased to multinational logistics groups.
Likewise, Premia Properties recently proceeded with acquiring a 11,300 sq.m. logistics center currently under construction, also in Aspropyrgos. This is an investment of €9 million. The facility in question has already been fully leased to a multinational company in the logistics sector and is expected to be handed over for use in October.
Many more local real estate investment companies (REICs) are investing in the logistics sector, including most of the industry’s key players. Among them are Dimand Real Estate, Prodea Investments, Trastor REIC, Noval Property, Trade Estates and BriQ Properties.
