- The Marquesa Building, which was previous occupied by Lear, is owned by a Millennium bcp
real estate investment fun
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.