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MADRID-AMB Property Corp. has closed on two leases at AMB Barajas Logistics Park, an industrial park located across from Madrid’s Barajas International Airport. The transactions will fill 102,000 square feet of the 444,000-square-foot asset.

A logistic services provider, Panalpina, took 59,000 square feet. The lease will expand the company’s presence in the Madrid market.

Newrest, a catering company, leased 43,000 square feet. The company will locate its in-flight arm in the facility, which will also serve as its operations headquarters for Spain and Portugal.

“We are pleased to welcome these high-quality customers to our project. Panalpina is a top ten global AMB customer who now leases from us in nine markets, and Newrest is a valued new addition to our customer list,” says Mo Barzegar, managing director.

San Francisco-based AMB owns more than 14 million square feet of property throughout Europe. A significant portion of the company’s portfolio is located near major airports, including Amsterdam Airport Schiphol, Brussels Zaventem Airport, Charles de Gaulle International Airport in Paris, Frankfurt International Airport and Heathrow Airport in London.

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