OVG Real Estate sold Avery Dennison’s European head office and R&D center to US private equity firm LCN Capital Partners last week. The 13,650 m² sustainable building in Leiden encompasses a mix of research facilities, laboratories and office space.
The head office and R&D center of Avery Dennison Materials Europe was designed by architectural firm Paul de Ruiter and is located in the Leiden Bio Science Park; the number 1 research park in the Netherlands. The Bio Science Park is located between Leiden’s central station and the A44 motorway. Schiphol, Utrecht, The Hague and Amsterdam are all within easy reach.
In this project, Avery Dennison combines its European head office with its research and development activities. Avery Dennison believes that bundling its R&D activities with its marketing, sales and service teams will enable it to provide its clients with even better service. The sustainable and inspiring building reflects Avery Dennison’s vision and values. The project is scheduled for completion during the summer of 2014.
Coen van Oostrom (CEO OVG Real Estate): “New investors are rapidly entering the Dutch market, as evidenced once again by the speed and determination with which LCN completed its first Dutch purchase together with OVG. A top-quality product with an excellent tenant, like our project for Avery Dennison, is a very sought-after investment product for these new entrants.”
OVG was represented by 3-stone Real Estate acting together with colleague Cushman & Wakefield. OVG had the legal support of Stijl Advocaten; LCN was supported by Houthoff Buruma (legal) and the CVO-Group (technical). The building is being constructed by J.P. van Eesteren. FGH Bank is financing the project.