25 June 2020
Union Investment acquires planned logistics facility in the Netherlands
• 34,000 sq m of rental space to be constructed by April 2021
• Acquisition for UniImmo: Europa
Union Investment has acquired a logistics project in Almere, the Netherlands, from construction company Aan de Stegge Twello. A total of 34,000 sq m of rental space will be built on the 52,200 sq m site in Stichtsekant business park by April 2021. The acquisition will be added to the holdings of open-ended real estate fund Unilmmo: Europa. The purchase price was not disclosed. Union Investment was advised on the acquisition by 3Stone Real Estate and Dentons. Aan de Stegge Twello was advised by TLF Real Estate and CMS.
“As the fifth largest economy in the EU, the Netherlands has become an important distribution hub in Europe due to its first-class airports and seaports and favourable location in relation to the European Hinterland. Almere is just 40 minutes’ drive from Amsterdam and is in the Dutch logistics hotspot of Almere-Lelystad-Zeewolde, which was named one of the top three logistics locations in the Netherlands this year due to the availability of staff and building land and the support provided by local authorities and government.”
Stephan Riechers, Senior Investment Manager Logistics at Union Investment.
The 34,000 sq m of rental space will comprise 28,900 sq m of logistics space, 3,700 sq m of offices and 1,400 sq m of mezzanine space. The property will also feature 31 loading bays and 290 parking spaces. It is already fully let to Dimensio Verpakkingen, a manufacturer of recyclable, environmentally friendly plastic packaging that intends to make the property its new headquarters. A 15-year lease has been signed.
For Union Investment Real Estate GmbH