A joint venture between Davidson Kempner, ECS Capital, and Magna is set to develop the Benavente Prime Hub, a logistics and industrial park spanning approximately 380,000 square meters in Benavente, Portugal. The park is strategically located in the logistics corridor of Greater Lisbon. The project aims to provide modern logistics facilities, addressing the growing demand for such spaces in the region.
The first phase of the project, covering 100,000 square meters of gross leasable area, commenced construction in October and is expected to be completed by the fourth quarter of 2027. The entire park is slated for completion by 2030. The CBRE and Savills Portugal have been appointed to co-exclusively commercialize the first phase of the project.
According to CBRE and Savills Portugal, the project is being launched at a time when demand for modern logistics spaces in Greater Lisbon continues to rise, while the availability rate is at historically low levels. The Benavente Prime Hub is designed to cater to logistics, distribution, and industrial activities, offering modular configurations adaptable to various operational needs and occupancy areas.
The park is expected to attract logistics operators, e-commerce companies, distribution firms, and industrial production and assembly units. The development will feature BREEAM Excellent sustainability certification. Its location provides direct access to the A10, A1, and A6 highways, connecting to Lisbon, Setúbal, and routes to Spain.
Nuno Torcato, Head of Industrial & Logistics at CBRE Portugal, emphasized that the project is crucial in addressing the current scarcity of high-quality, large-scale logistics and industrial space in the national market. He noted that Benavente presents itself as an alternative for operators seeking proximity to the Lisbon Metropolitan Area, good accessibility, and expansion capacity.
Pedro Figueiras, Director and Head of Lisbon at Savills Portugal, stated that Benavente is consolidating its position as one of the most strategic locations for logistics development in the Lisbon area of influence. He added that this trend is expected to strengthen in the coming years with the planned structural investments in the region.
The Benavente Prime Hub is poised to play a significant role in the logistics and industrial sector in Portugal, providing much-needed modern facilities and supporting the growth of businesses in the region. The project's development is a notable investment in the country's infrastructure, contributing to economic growth and job creation.
Key points
- The Benavente Prime Hub will have a total area of 380,000 square meters and is expected to be completed by 2030.
- The park will feature BREEAM Excellent sustainability certification and direct access to major highways.
- The project addresses the growing demand for modern logistics spaces in Greater Lisbon, where availability rates are at historically low levels.
