Trastor AEEAP signed a definitive agreement to acquire 100% of Pila Real Estate – Commercial Anonyme Company. The acquired company owns a 45-acre plot of land in Aspropyrgos, Attica, on which a new, highly energy-efficient warehouse and distribution center complex has been built, with a total area of 22,234 square meters. .m The warehouse complex will be LEED certified, making it the first storage and distribution center in Greece to meet sustainable building standards. The value of the deal, which was signed in November last year in a binding preliminary agreement, is 9.65 million euros, while the total value of Trastor’s real estate portfolio (excluding the new acquisition) is 410 million euros.
Investment of 9.65 million euros in a modern logistics center in Aspropyrgos.
“Today we completed one of our most important investments in the logistics sector with the acquisition of a state-of-the-art warehouse and distribution center complex built to unprecedented environmental sustainability standards. The facility’s excellent location, build quality, and operational flexibility that allows single or multi-tenant use have attracted two major domestic refrigeration and pharmaceutical supply chain 3PL service providers with international clientele in Europe and Asia.” noted the CEO of Trastor Thassos Casinos.
According to him, the logistics sector, thanks to the structural changes that have taken place in the structure of the role of global supply chains over the past three years, continues to offer the best prospects for the Greek commercial real estate market. In this direction, the search for more sustainable and efficient distribution channels is fueling the demand for additional storage space in a market characterized by a minimal number of modern logistics buildings. “Given these key factors, we expect the pace of rent growth to continue, as well as capital gains, to continue as this sector continues to offer the highest returns. Over the medium term, Trastor will continue to invest in commercial warehouses with the goal of increasing its presence in the industry by at least 50% and maintaining its commitment to building one of the most modern, energy efficient, diversified and largest warehouse portfolio in Attica.” concludes Mr. Casinos.
Source: Kathimerini
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