CBRE Global Investors, on behalf of a separate account client, has acquired a warehouse distribution centre at Kastrup Airport, Copenhagen from Worldwide Flight Services Denmark (WFS) in a sale and leaseback transaction. The circa 35,400m² site comprises c.11,700m² of lettable space which has two cross dock-buildings with a newly constructed interlinked cold storage for pharmaceutical products and a three-storey office building with over 60 car parking spaces. The property has direct access to airway runways and the air cargo area.
The asset is let to WFS, one of the largest cargo handling company’s in the world. WFS is the main cargo handler at the Kastrup airport, focusing on business to business operations. Greater Copenhagen is regarded as northern Europe’s hub for pharmaceutical logistics and the tenant intends to expand the facility with a new 3,700m² maximum cross-dock in the next three years. The first-line logistics asset has a unique airport location with excellent accessibility to rail and motorway. The property fits the portfolio strategy to enhance the direct return and to further increase its logistics exposure in the main European hotspots.
