Belgian logistics real estate developer VGP has kicked off construction on its third project in Portugal, VGP Park Montijo.
The park will offer 31,400 m2 of lettable space for logistics, industrial, and last-mile purposes. It is located on Estrada Nacional nº 5, near the A33 and A12 motorways, 18 kilometers from Lisbon.
VGP Park Montijo is already pre-leased in 42% of its total area, with 18,000 m2 still available for rent. The park offers units from as small as 5,000 m2 up to tailor-made solutions for large logistics operations.
The facilities will offer high-quality conditions for logistics, storage, commercial activities, and light-industrial operations.
Construction is expected to take 12 months, and VGP aims to obtain the BREEAM "Excellent" sustainability certification for the park.
José Ferreira, country manager of VGP Portugal, said: ‘VGP Park Montijo is another important step towards the growth of our operations in Portugal, particularly in the Lisbon area. We are confident that we will soon lease the remaining area. Our strategy remains the same in this project as in the previous ones, with a focus on high-quality construction, sustainability, and convenient locations near urban centers.’
This project is VGP’s third in Portugal, following VGP Park Santa Maria da Feira (completed in 2019 and leased to Rádio Popular) and VGP Park Loures, located in the Lisbon metropolitan area and 100% dedicated to last mile logistics. VGP Park Loures has been leased to DPD and DHL and its delivery is scheduled for this year.