Trammell Crow Company Acquires Fourth Site in Spain As First Project Reaches Development Milestone

Trammell Crow Company (TCC), a leading global developer and investor in commercial real estate, has acquired a 21,360 sq m (229,917 sq ft) site in Granollers near Barcelona, its fourth site in Spain upon which it will deliver a Grade A logistics asset.

On the site, known as CORE Granollers II, TCC will develop one building divided in two parts that will offer 14,114 sq m (151,921 sq ft) of warehouse, office and mezzanine space. The site is a short distance from TCC’s first acquisition in Spain, and benefits from quick access to the AP-7 and C-17 motorways, with Barcelona’s port and airport a 37-minute and 40-minute drive away respectively.

Meanwhile, TCC has launched its leasing campaign for its first site in Granollers at which it has raised concrete columns and laid the first stone at a ceremony attended by the mayoress of Granollers, Alba Barnusell. CORE Granollers I will see the delivery in spring 2023 of an 8,594 sq m (92,505 sq ft) building with 11.5m clear heights, a 7tn/sq m floor loading capacity, and eight loading docks.

TCC’s prime logistics developments across Europe are designed and constructed to consistent standards. This includes a BREEAM Very Good or Excellent rating, an EPC A certification, and construction that enables full photovoltaic rooftop installations. TCC also designs its assets to reduce the embodied carbon footprint of its warehouses per sq m year-on-year, and provides multi-modal electric vehicle charging facilities for cars, motorbikes, cycles, scooters and HGVs.

TCC has two additional sites in Spain, in Cabanillas and Alovera in Guadalajara, where it will develop a 36,232 sq m (389,998 sq ft) and a 49,149 sq m (529,035 sq ft) warehouse respectively. TCC also has three sites in the UK, two in Germany and one in the Czech Republic.

MAF advised TCC on the acquisition of CORE Granollers II. CBRE and Consulta act as leasing agent on CORE Granollers I.

Thierry Bougeard, Head of Iberia Logistics at Trammell Crow Company, said: “Our growth in Spain reflects the strength of the product we’re bringing to the market: Grade A logistics assets in excellent locations with strong ESG credentials. Acquiring our fourth site in Spain demonstrates our continued appetite to expand, as we remain confident that we have the expertise and resources to continue maximising the opportunities in the market. We thank our partners who have been instrumental in helping us reach these milestones at our sites in Granollers, demonstrating the strength of our partnership approach.”