Pontegadea, the family investment firm of Zara founder Amancio Ortega, acquired five logistics centers in the U.S. from Realty Income for about $722 million, according to reports citing Spanish newspaper El País.
Why it's the BFD: Due to increasing retail inventory levels, an additional 800 million square feet will be needed, according to U.S. logistics provider Prologis, the Wall Street Journal reports.
