News

Sunrise completes on acquisition in Porto

30 November, 2022

Sunrise enters the Portuguese market with a 76,000sqm speculative development in Valongo, Porto

Sunrise Real Estate ("Sunrise") will start a speculative development in Valongo, Porto, in early 2023, having acquired the land earlier this month. The site is situated in the second largest Portuguese logistics market, approximately 10km from the Porto city centre.

The development comprises two grade-A warehouses, both of which will achieve a BREEAM very good accreditation. Scheme enhancements will include solar panels and the installation of additional EV charging points. The project highlights Sunrise’s continuous effort to deliver environmentally friendly and sustainable buildings.

The development program is scheduled to complete in early 2024, with early access for potential tenants in the fourth quarter of 2023.

Kyle Streitburger, Head of Acquisitions at Sunrise, commented: “We are pleased to enter the Portuguese market with this operation in Porto. We see Portugal as an underserved market for grade A warehouses due to the lack of new supply delivered over the last decade. We believe this makes it a particularly attractive market for development.”

For further details please contact the Sunrise team (Hello@sunrise-re.com).

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