AXA Belgium, advised by King Sturge's Antwerp team, has purchased a 67,665 m[sup]2[/sup] warehouse and logistics complex in Hoogstraten, in the province of Antwerp for EUR 31 mln. The property was sold by LEG I+II, a subsidiary of LaSalle Investment Management The transaction represented a yield of about 7.5%.
AXA Belgium, advised by King Sturge's Antwerp team, has purchased a 67,665 m2 warehouse and logistics complex in Hoogstraten, in the province of Antwerp for EUR 31 mln. The property was sold by LEG I+II, a subsidiary of LaSalle Investment Management The transaction represented a yield of about 7.5%.
The logistics park is located within a vital part of Belgium’s industrial infrastructure, with proximity to its port and docking facilities making the area the base for distribution for a large number of companies operating in Antwerp. Companies operating in the area include General Motors/Opel in Antwerp, Atlas Copco in Wilrijk, Procter & Gamble in Mechelen and Nike in Laakdal.
King Sturge's Brussels investment team recently carried out another industrial transaction, in purchasing five industrial sites on behalf of the Kenmore Industrial Fund (KEIF). With a total area of over 45,000 m2 the sites were acquired for EUR 27.3 mln and are all located near major Brussels transport links. The acquisition gives KEIF a total of eight industrial properties throughout Belgium.
