CBRE Global Investors has acquired, on behalf of a pan European Fund, the Casa Distribution Centre in Olen, in the Antwerp province of Belgium. The asset, secured off-market, is purchased from Domus Logistics, a subsidiary entity of the Casa Group. The circa 60,000m² state of the art, grade A logistics asset is fully occupied by Casa Group, a Belgian interior chain with 500 stores in eight countries. The asset serves as their European distribution centre as well as their European office headquarters. It was built in 2017 and comprises of 49,776m² of warehouse space, 6,609m² mezzanine and 4,969m² office space. The asset is located along the E313, one of the main logistics axes in Belgium, between the cities of Antwerp and Liege. The location benefits from good international connectivity and several large international brands have their European distribution centres located in the area.
“There is a limited available product in this area making this a rare investment opportunity. Benefitting from strong logistics market fundamentals and structural undersupply in the Antwerp submarket, the asset will also provide a secure income stream. With the positive outlook for the logistics sector, we expect this asset to be a strong performer for our investors,” commented Arthur De Four, Senior Asset Manager, CBRE Global Investors.