CGS invests approx. €54 million in Belgian logistics property (BE/DE)

Commerz Grundbesitz-Spezialfondsgesellschaft (CGS), a subsidiary of Commerz Grundbesitz Group, signed the sales contract for a logistics property near Brussels that is earmarked for the company's EURO LOGISTIK 1 institutional property fund.

The purchase price for the property was approximately €54 million. Seller was the Hessenatie Logistics N.V., a 100% subsidiary of Compagnie Maritime Belge with its headquarter in Antwerp - one of the largest international shipping companies. Hessenatie was adviced by King Sturge.

The property comprises 11 warehouses with around 75,000 m² logistics space, which were built between 1997 and 2006. Two additional warehouses are currently under construction.

All spaces are fully let to the French retail group Carrefour, the market leader in Belgium. The company operates the property as nationwide distribution center.

The object acquired is located north of Brussels in the Cargoville Woluwelaan in Vilvorde, Belgium's most important logistic hub. This location lies inside the triangle between Brussels airport, the long-distance connection between Brussels and Antwerp, the A1 motorway, and the Brussels motorway orbital. On top of that, the acquired property borders directly on the container terminal of the inland waterway to Antwerp, which it directly to the country's deepwater seaports.

Source: Commerz Grundbesitz Group

Related News