Genesta has acquired Stenvreten 8:30, a logistics property of 80,000 m2 under construction in Enköping, 70 km west of Stockholm.
The deal is an off-market transaction with Logistic Contractor, part of the Wästbygg Group.
Financial details were not disclosed.
'The logistics market in the Nordics remains strong and we are excited to make another acquisition in this sector. The transaction secures a high-quality asset with substantial value creation potential,' said David Neil, CEO of Genesta.
With an estimated lettable area of slightly more than 80,000 m2 the building provides sustainable, flexible and efficient logistics facilities, the firm said. It can be subdivided into two, three or four units.
The building will have several green warehouse design features such as rooftop solar panels, high-efficiency roofing and walls, LED-lighting and will be certified in accordance with BREEAM In-use with the ambition to achieve level Excellent.
The region of Enköping is ranked as a key logistics locations in Sweden due to its local and international links.
Emma Stenlund, investment manager at Genesta, said: 'The facility is larger than 11 football fields and has been designed to offer top quality building specifications to the most demanding occupiers. It allows Genesta to provide top modern spaces to a broad range of tenants.'
Genesta is planning to shortly initiate discussions with potential occupiers. The construction is expected to be completed during fall 2023.
'We are very pleased with the agreement with Logistic Contractor and look forward to our future collaboration. We look forward to unlocking the value in this great product by offering modern, flexible and sustainable premises to successful companies,' added Neil.
Nordsten Development acted as Genesta’s developing partner during the transaction, a Roschier and Svalner advised Genesta during the Due Diligence.
