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New Amcor Flexibles Neocel premises in Palmela
3 Nov, 2006, Lisbon
Global real estate consultant Cushman & Wakefield (C&W) announced today the leasing of 11,000 m2 of warehouses and almost 1,000 m2 of office space to Amcor Flexibles in the Marquesa Building in Palmela.
Cushman & Wakefield acted on behalf of the owner of the building, a property investment fund managed by the Portuguese financial group Millennium bcp.
Amcor Flexibles, headquartered in Melbourne, Australia, specialises in the production of flexible packaging for food, healthcare and personal care goods. The company’s aim is to fully relocate its Lisbon factory, currently near the Expo site, to Palmela. Amcor plans to be operational in the new building from July 2007.
Millennium bcp Gestão de Fundos de Investimento, SA is the fourth largest real estate fund manager operating in the Portuguese market in terms of volume of assets, with a market share of 10.4%.
According to Ana Gomes, Head of Cushman & Wakefield's Industrial Department in Portugal: “Without a doubt, this is one of the most important transactions in the Portuguese real estate market this year, as it involves the leasing of a substantial area for the expansion of a manufacturing activity in our country. This operation is also noteworthy as it involves the reassignment of one of the best industrial buildings in our market, in terms of both location and the equipment and infrastructure available to support industrial activities. The Palmela region will now see sustained growth in investment, continuing to benefit from the presence of the Autoeuropa factory (Volkswagen), opposite this site.”
C&W has a long-standing relationship with this property: in 1998 it represented Lear Corporation in the acquisition of the premises, later acting in their sale to one of the real estate investment funds managed by Millennium bcp, in 2003.
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