In recent years, Vitoria-Gasteiz has strengthened its position as one of the leading industrial and logistics hubs in northern Spain. A solid production base, the availability of industrial land, and its strategic location along the Atlantic axis have positioned the Basque capital as a growing magnet for real estate investment in logistics.
Against this backdrop, investor Accolade has decided to expand its footprint in Spain by acquiring a new parcel in Vitoria, from which it will drive Accolade Park Vitoria West, a project aimed at addressing demand for high-quality industrial and logistics spaces. To market the future park, Accolade has partnered with real estate advisor JLL, which will lead the go-to-market strategy for the asset.
“Spain, and in particular industrial hubs like Vitoria-Gasteiz, are playing an increasingly important role in reconfiguring European supply chains. Our goal is to consolidate a portfolio of modern, efficient, and well-located assets that support the growth of industry and logistics in regional markets with real development potential, relying on specialized partners like JLL from the project’s early stages,” says Eduardo Feliciano, Business Director at Accolade.
A flexible project oriented to industrial and logistics demand
The deal was sealed with the acquisition of a plot of over 19,400 m² in the Júndiz Oeste Industrial Park, one of the most established industrial areas in the region. This land investment continues the company’s strategy in Vitoria-Gasteiz, following the success of Accolade Funds Park Vitoria, managed in the area by the qualified investor fund Accolade Industrial Fund, which comprises two warehouses of approximately 20,000 m² and 13,000 m².
The new project is conceived under a turnkey model, aimed at industrial or logistics users, and designed with flexibility to adapt the asset to the future tenant’s operational needs. It envisions a built area exceeding 11,800 m², with the possibility of configuring it as a single-tenant facility or dividing it into two modules, depending on market demand. Currently, the park is available for a future tenant.
Specialized marketing to attract the future user
Adriana Gorri, Leasing Advisory Director at JLL Spain, explains: “We are delighted to accompany Accolade in marketing this turnkey, versatile asset ready to host one or two tenants. Located in a strategic enclave and backed by solid sustainability certifications, the property stands out as a particularly attractive opportunity in the north of Spain’s industrial real estate market.
The company has already begun the administrative steps necessary for the development of the project and expects the asset to be delivered to the user in the first quarter of 2027. Following the standards the company applies across its European portfolio, Accolade Park Vitoria West aims to achieve BREEAM Very Good environmental certification, in line with its focus on efficient and sustainable assets.
The land was acquired from Gasteizko Industria Lurra, S.A. (GILSA), a public company owned by the City Council of Vitoria-Gasteiz and by SPRI Group, through SPRILUR. The project is developed in coordination with the Basque institutional ecosystem for attracting investment, in which Accolade collaborates with the SPRI group and Invest in Basque Country.
“The acquisition of this land allows us to structure a project aimed at developing a competitive asset in terms of location, operational efficiency, and environmental standards. We are working on the technical definition of the future development to ensure it meets the current demands of the industrial and logistics market,” says Jan Mazáč, Associate Director at Accolade.
