Czech-based Accolade group to build warehouses in Spain
The Czech industrial property group Accolade is headed to Spain to continue the expansion of its portfolio. It will be investing around €47.5 million in Valencia and in Vitoria in buildings with roughly 53,000 sqm of space. "The strategy position of the new parks played a key role for us," says Accolade's CEO Milan Kratina. "Valencia and Vitoria are region that we consider to be centers of modern industry and logistics." Kratina said the determination with which local officials in the regions are investing in improvements to the business environment was also important. The first project, located on the edge of the city of Vitoria and will offer 33,000 sqm of industrial space. The first phase of the project in Valencia will add 20,000 sqm to a region that already offers 3 million square meters of industrial space.