German fund manager Deka Immobilien has acquired a logistics project in the Dutch city of Venlo under a sale-and-lease-back transaction.
The Netherlands company VidaXL sold the property for an undisclosed sum, and will rent the premises on completion
The construction project includes about 105,000 m2 of leasable space, 332 car parking spaces and 19 truck parking spaces on a plot that is around 150,000 m2 in size. It is located in the Trade Port Noord submarket in Venlo, on the German border. Completion of the property is scheduled for the fourth quarter of 2017.
VidaXL will use the entire property under a long-term lease for its ecommerce shop. Efforts are being made to obtain British BREEAM 'Very Good' sustainability certification for the property.
According to Deka, the asset will be added to the portfolio of the sector fund WestInvest TargetSelect Logistics, which targets institutional investors.
