WDP concludes a rental agreement for 16,000 m² and builds a new distribution center (BE/NL)

The closed-end real estate company Warehouses De Pauw has concluded a rental agreement of three years with Terumo Europe with regard to a distribution center of 16,000 m² on its available plot at the Hermespark in Genk. The contract foresees the construction of a new warehouse, including corresponding offices. This project involves an estimated additional investment value of €7 million. With this agreement WDP fully completes its first major site of 32,000 m² in Limburg.

Terumo Europe NV, a subsidiary of Terumo Corporation, one of the leading Japanese companies dedicated to the development, production and sales of disposable medical devices, like a.o stents, guide wires, catheters, oxygenators, blood separation systems, syringes, needles, blood collection tubes, etc.

The company has manufacturing sites in several countries, among which Japan, US, India, the Philippines and China. The factories of Terumo in Europe are located in Haasrode (Belgium) and in Knowsley (UK). Terumo Europe is active all over Europe through an extensive sales network. The center established in Genk will take care of an important part of the European distribution activities.

WDP will build the polyvalent warehouse of 16.000 m² including offices in accordance to the latest sustainability standards. The building will be equipped with solar panels and complies with the most recent insulation norms.

The estimated total additional investment (on top of land and the preparatory works already carried out) for the building and the installation of the solar panels amounts to 7 million EUR, excl. VAT. The new distribution center will be operational on April 1, 2010.

Tony De Pauw, CEO of WDP, declares about the Terumo project: "The quality as well as the sustainable nature of the buildingcontributed to the decision by Terumo. Of course, also the location was a key factor since Limburg belongs to one of the top locations in Europe with regard to logistics".

With this contract, WDP has fully developed its site on the Hermespark in Genk. The total site in Genk comprises a storage facility of 32,000 m² of which 16,000 m² is already leased as a warehouse to the department store Lidl. This renting out of one of the largest properties in WDP's portfolio will constitute a positive contribution to the operational result from Q2 2010.

Source: Citigate

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