NREP Logicenters continues to strengthen its position in the Oslo region with a record-breaking acquisition of one of the Nordic region’s most sophisticated distribution centres. The purchased asset is a 27-metre high-quality property measuring 84,800m² let to the grocery retailer Coop. The purchase price was not disclosed.
“I am very proud to announce the off-market acquisition of this first-class logistics facility at one of Norway's most attractive logistics hubs. It is in line with our long-term strategy to acquire properties of this particular quality. It is not a coincidence that the two largest logistics facilities in our property portfolio, this one and one in Balsta, will be used by companies in the grocery segment. This is an industry which is less affected by market cycles than other industries as there will always be a demand for food,” said Matthias Kettelhoit, Head of Logicenters.
The property is fully automated and has refrigerated, freezer and temperate warehouse sections, enabling the tenant to handle large volumes of goods. In line with Logicenters’ sustainability and energy efficiency strategy, there is an opportunity to install solar panels on the property, both on the roof and on the facades.
“As one of the Nordic region’s leading real estate investors, we are always striving to intensify our presence at strategic locations around the region – and this is exactly what we have done here. This acquisition is the single largest investment we have made in logistics and it is also the latest addition in our ambition to further expand NREP’s presence in Norway. We would like to thank Moller Eiendom and Stokke Industri for their excellent collaboration. We look forward to continuing our partnership with Coop at this property,” said Jens Petter Hagen, Partner at NREP Norway.
