Real Estate Performance News

HABACKER GMBH SELLS XXL DISTRIBUTION CENTER

PRESS RELEASE

Habacker GmbH has announced the completion of the sale of a redeveloped 63,363 sqm XXL distribution center in Oostrum (Witte Vennenweg 1) to Exeter Property Group Europe. The property is fully leased to logistics service provider DSV, which has recently agreed on a new long-term lease contract. The transaction volume amounted to approximately EUR 36.2 million. It is one of the largest single asset deals in 2016 in the Dutch logistics market.

Oostrum is an essential hub for the operational activities of DSV. The company serves several major shippers from this location and makes great use of the multimodal services in the Venray vicinity and road networks towards the European hinterland.

Michiel Assink, Senior Director Industrial & Logistics at CBRE: “Tenants, developers, and investors alike are focusing more than ever on these type of strategic logistics hubs. As a result, the supply of land as well as existing properties suitable for large scale strategic multimodal locations in The Netherlands are becoming more scarce, what inevitably leads to a tighter market.”

Habacker GmbH was represented by CBRE during the sales process. Van Doorne NV advised on legal matters. Exeter Property Group Europe were advised by Proptimize and Loyens & Loeff.

Source: Vastgoedmarkt.nl