C&W and Merlin Properties close largest logistics rental deal ever

The Portuguese home appliances company Worten is to occupy 120.000m2 at the North Lisbon Logistics Park owned by Merlin Properties.

The property consultants Merlin Properties and Cushman & Wakefield represented the owner in what was the biggest logistics rental deal ever made in Portugal.

João Cristina, head of Merlin Properties in Portugal, commented in a press release that “this operation, in addition to demonstrating the good momentum of the logistics market, also represents the ambition of the two companies to continue to be a reference in this country. It is a source of great satisfaction to have Worten on our logistics platform”.

Sérgio Nunes, Head of Industrial & Logistics at Cushman & Wakefield, points out that “we are very pleased to have supported Merlin Properties in carrying out this operation, which represents the largest logistics transaction ever in Portugal, highlighting the dynamism of the market. This new infrastructure will certainly allow Worten to expand and significantly increase the efficiency of its operation”.

The North Lisbon Logistics Park currently has tenants such as Rangel, DSV, and Noatum and is currently in an expansion phase started in 2021 and expected to be completed by 2028.

Merlin Properties is the largest real estate company on the Iberian peninsula and is listed on the stock market. Its main activities are the development, acquisition and management of commercial real estate assets.