Vencom Property Partners is handing over the responsibilities for InfraCity to Profi as a consequence of the sale of the asset, after successfully developing and managing InfraCity for seven years as the operating partner of Orion European 2 Investments.
InfraCity is a retail and business park of approximately 190,000 m², located halfway between the center of Stockholm and Arlanda International Airport.
Since the acquisition in late 2005 InfraCity has undergone a significant development and has now been repositioned as a strong retail and office location in the Northern Stockholm area.
- New zoning has been put in place, creating the possibility to construct approximately 130,000 m², of which approximately 50,000 m² are expected to become new retail space.
- Land has been sold to the German retail company Bauhaus and the construction of a 17,000 m² store is underway.
- Existing industrial and warehouse space has been converted into retail premises, creating a retail area with critical mass.
- The rental income has been increased by approximately 30%.
“We have had a very good cooperation with Orion during these years, but we are also pleased to hand over the responsibility for InfraCity to Profi who, I am convinced, will continue the development of InfraCity in a positive way”, says Johan A. Gustafsson, Chairman of Vencom Property Partners.
Source: Vencom
