Montea puts its growth strategy into practice by expanding its property portfolio (BE/FR)

MONTEA (NYSE Euronext/MONT/MONTP) has announced the expansion of its property portfolio by 25% in Belgium and 20% in France.

The company will expand its portfolio through the following projects:

In-principle agreement with MG REAL Estate (De Paepe Group) for acquisition of customized development for DHL Global Forwarding at Brussels Airport
From January 2013, DHL Global Forwarding Belgium will be combining all of its airfreight activities at Brussels Airport under a single roof as part of a new development by De Paepe Group at Brucargo. The development encompasses 23,000 m² of warehouse space and 5,300 m² of office space and social areas.

DHL Global Forwarding will lease the building for a period of 15 years, with the option to terminate after 10 years. Work on the project has already begun and the new distribution center is expected to be operational by the first quarter of 2013.

De Paepe Group obtained building rights for 50 years for this project from The Brussels Airport Company under commercial terms that can be renewed for a further 50 years.

Montea will acquire the project, based on an initial return of 7.50%, representing an investment value of €26.2 million.

Peter Demuynck, Chief Commercial Officer of Montea: "We are very pleased to be able to contribute to the consolidation of DHL Global Forwarding at Brussels Airport. DHL has been a driving force in the development of Brucargo since the facility began operating in 1980. We also believe firmly in the economic potential of Brucargo as a logistics hub.

"The new complex of slip‐roads being developed connects the area directly to the E19 and with the completion of the Diabolo project, Brucargo will be the most accessible logistics park by public transport in Belgium. Montea intends to continue investing in airport property in the future.

"We are confident that with our knowledge and experience at the airport we will be able to make a real contribution to the development of the cargo side of airports."

Collaboration with Office Depot in Europe to acquire one site in Puurs (Belgium) and ongoing negotiations regarding a proposed sale and leaseback operation for one site in the Marseille area
Office Depot in Europe, leading supplier of office products and solutions, recently decided to centralize its distribution and storage activities for the Benelux in the Netherlands, meaning that the Belgian distribution and storage site in Puurs would become vacant.

Montea has signed a collaborative agreement with Office Depot in Belgium in relation to the future purchase of this logistics center. Montea will offer the premises on the market for lease and, on condition it is leased, purchase the property at the latest by June 20, 2013.

If the warehouse space has not been leased by that time, Office Depot has guaranteed Montea the rental income for an additional period of nine months (until March 20, 2014).

The building is situated on land of 30,600 m² and includes modern warehouse space of 12,000 m² and office space of 1,600 m². The site is particularly well located in the Pullaar logistics zone, with fast links to both the A12 motorway between Brussels and Antwerp, and the N16 arterial road to the E17. There are also very few vacancies in the Puurs area.

Montea is investing in this property on the basis of an initial return of 8.15%, representing an investment value of €7.9 million.

Marseille – Site at Saint‐Martin‐de‐Crau
Montea engaged in discussions with Office Depot France for a proposed sale and leaseback operation for a distribution platform in the Marseille area. This logistics platform consists of 18,000 m² of warehouse space and 1,300 m² of offices and is located in Saint‐Martin‐de‐Crau, at one of the busiest logistics hubs in France.

Montea would invest in this property on the basis of a fixed lease term of nine years and an initial return of 8.00%, representing an investment value of €9.9 million.

Jo De Wolf, Chief Executive Officer of Montea: "This co

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