Union Investment acquires a logistics development in Almelo, Netherlands
• Logistics development in XL Business Park Twente
• Building completion is scheduled for end of September 2023
• Acquisition for the UniImmo: Europa fund
Union Investment has acquired a logistics destination in XL Business Park Twente in Almelo the Netherlands with STELLAR DEVELOPMENT Ara Almelo C.V., a collaboration between Heembouw and Stellar Development B.V. The acquisition is on behalf of Union Investment’s open-ended property fund UniImmo: Europa.
Heembouw will start the construction works of the c. 47,000 m² Ara Almelo logistics and distribution centre in September 2022 and will be completed by the end of September 2023.
"Almelo is a strategic logistic destination near to the Dutch and German border and there has been a high level of leasing activity over the past two years due to high demand and limited supply of land in the traditional core logistics markets."
Stephan Riechers, Head of Logistics Investment at Union Investment
Stellar Development Ara Almelo C.V. is responsible for the letting of the development which consists of four units, it can be used as both a single-tenant and a multi-tenant building. The development is located within sight of the A35 motorway and direct alongside the entrance to the XL Business Park Twente. All units will have optimal truck loading access and market standard specifications.
Nature, as one of the Stellar Development brand pillars, is given a central position in the development. The development will be surrounded by a unique nature screen, about 15 meters high and almost a kilometer in length, providing a strong relationship between the building and nature, as well as creating an attractive working environment. The distinctive architecture will give a strong boost to the location’s biodiversity, and will be a ‘nature-inclusive’ showpiece for the XL Business Park Twente and the municipality of Almelo. Both the building design and the choice of material and techniques, the building will generate the smallest possible CO2 footprint. The development will be certified to BREEAM "Very Good" and also will be one of the first logistic hubs in the Netherlands to meet the EU taxonomy Regulations.
Union Investment was advised by 3Stone Real Estate (Commercial), Dentons (Legal) and Drees & Sommer (Technical & Environmental) and Orterea (Taxonomy).
Union Investment's European logistics portfolio is worth around EUR 3.5 billion and comprises 64 properties in Germany, France, Poland, Austria, the Netherlands, Ireland and Switzerland.
For Union Investment Institutional Property GmbH