Goodman's European Logistics Fund acquires 56,000 m² warehouse from Borghese in Tiel (NL)

Goodman's European Logistics Fund ('GELF'), today announced the acquisition of a soon to be completed 56,253 m² logistics facility in the Medel Business Park in Tiel, the Netherlands. The warehouse is pre-let to a Switzerland based leading global logistics provider.

The Medel Business Park in Tiel is attractive to logistics and industrial companies due to its central location in the Netherlands and good transportation connections by road and water. Tiel is strategically located adjacent to the Amsterdam-Rhine canal and the A15 motorway, which is the east-west connection between Rotterdam (at 75 km) in the west and the Arnhem-Nijmegen region (at 40 km) in the east. From there it connects to other highways leading further east into Germany – the A1 and A73 via logistics hotspot Venlo-Venray.

Upon completion in January 2008, the logistics facility will comprise a 46,125 m² warehouse, a 6,761 m² mezzanine and 3,367 m² of offices. It will have a modular lay-out that can easily be subdivided into six warehouse units. The warehouse will feature 12.5 m eaves height, have a floor loading capacity of 50 kN/sqm, 63 loading docks and be equipped with an ESFR sprinkler system. Goodman will manage the property services both inside the building and on the logistics site.

GELF acquired the facility and the 79,174 m² plot of land on which it is located, from Borghese, a local developer of logistics, industrial, retail and commercial real estate in the Netherlands, by means of a share purchase transaction.

Lodewijk Slippens, Director at Borghese said, "Our customer is one of the world's leading logistics service provider and we are confident that with Goodman and its service teams, they will enjoy optimal use of this high-quality infrastructure, allowing them to concentrate on their core business."

Peter Davies, Director Logistics Funds for Goodman added, "We are very pleased to announce this agreement. Due to its technical specifications and its location in one of the Netherlands' logistics hot spots, this asset adds real value to our logistics fund portfolio."

With this acquisition, Goodman currently owns over 400,000 m² of logistics space in the Netherlands.

Source: Goodman International

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