Cushman & Wakefield recently announced that it has advised Caixa Geral de Depósitos on the sale of an industrial property with c.a 42,800 m2 of GCA in Palmela (Greater Lisbon Area).
The property was acquired by NewCold, a Dutch company with a global network of advanced and fully automated cold storage warehouses on 3 different continents.
The property consists of two logistics warehouses and a restaurant. It is served by excellent accessibilities, very close to the A2 motorway, that connects Lisbon to the South of Portugal. In the past, the property was occupied by the former GCT group and has been on the market for a few years.
According to Sérgio Nunes, Head of the Industrial, Logistics and Land at Cushman & Wakefield Portugal, “this transaction reflects the dynamism of the logistics market in Greater Lisbon and reinforces the position of the NewCold group, a reference in the cold logistics sector, in particular on the south bank, Palmela. This transaction also reveals that players tend to choose locations with good accessibilities and exposure. The Palmela area, since the creation of Autoeuropa, has had a strong commitment from large investors from other sectors, that choose this strategic location for their investments.”