Deka Immobilien has acquired a logistics project in Venlo, Netherlands under a sale-and-lease-back transaction. The Netherlands company VidaXL sold the property and will use it in the future. The property will be added to the portfolio of the sector fund WestInvest TargetSelect Logistics, which is aimed at institutional investors. The parties agreed not to disclose the purchase price.
The construction project includes about 105,000 m² of leasable space, 332 car parking spaces and 19 truck parking spaces on a plot that is around 150,000 m² in size. It is located in the Trade Port Noord submarket in Venlo, right on the German border, with excellent access by road, rail and water. Completion of the property is scheduled for the fourth quarter of 2017. VidaXL will then use the entire property under a long-term lease for its e-commerce shop, which offers home & garden, garage and do-it-yourself products and clothing under the VidaXL brand. Efforts are being made to obtain British BREEAM “Very good” sustainability certification for the property.
This purchase allows fund management to significantly expand the Netherlands portfolio of the WestInvest TargetSelect Logistics fund with a new modern property in the second-largest logistics market in the country.
