Square acquires logistics park in Aveiro

Property Core Real Estate Fund, managed by Square Asset Management, has acquired a logistics centre in Taboeira in the municipality of Aveiro in a deal supported by Colliers.

The asset totals more than 18,790m2 of construction area combining warehouses and offices.

Located on the Lisbon to Porto axis with direct access to the A17, A25, and A1 motorways, the building is 10.5 metres high, 174 parking places, and 42 cargo loading docks, ensuring a high level of operational efficiency for industrials and distribution.

The logistics and distribution centre is currently 100% occupied why a well-known tenant.

Nuno Nunes, Chief Investment Officer of Core Real Estate Fund at Square AM, says that “it was a pleasure to complete this transaction and integrate a stable asset with prime tenants in our portfolio, fully aligned with the objectives of our investors: resilient assets, with attractive returns and a renowned tenant. Colliers’ guidance throughout the process, from strategic positioning to final negotiations, further reinforced the success of this acquisition.”

Pedro Valente, Managing Director of Colliers Portugal, adds that “the transaction of this asset shows the positive momentum of the warehousing and logistics sector in Portugal, which has shown a solid performance in recent months.

For Colliers, it was a pleasure to support the entire divestment process, and the selection of an investor such as Square Asset Management was fundamental, as it ensured the confidence and the necessary conditions to complete the operation within the price and deadlines defined by our client.”