Aefides buys 13,000 m[sup]2[/sup] car showroom in Netherlands

Dutch property fund manager Aefides has acquired the Autoborg property located at the industrial park Eemspoort in the northern Dutch region of Groningen for an undisclosed sum. Broker DTZ Zaddelhoff advised on the transaction.

Autoborg was developed and sold by developer Ten Brinke Projectontwikkeling. Based on a new concept for the sale of used and almost new cars to consumers, the property comprises 13,000 m² to store 600 vehicles, 1,000 m² of office space, a car wash, car rental agency and maintenance facility with seven work stations. The facility was designed in accordance with the needs of the tenant, Noordlease, which has a 15-year lease. Noordlease is a fully owned subsidiary of Dutch financial group ING.

DTZ said that Aefides was able to place this investment with a large number of interested parties in a short period of time despite the difficult market conditions.