German group Deka Immobilien has exchanged contracts to acquire a development project in Amsterdam for an undisclosed amount.
The distribution centre - AMS Cargo Centre II - is being developed in a joint venture by Proptimize and Built to Build. It is located directly across from AMS Cargo Centre I, which Deka acquired as a development project in 2017.
The scheme is scheduled for completion by December 2019 and will provide more than 32,000 m2 of leasable area, 196 parking places for cars and 117 for trucks. Around 6,000 m2 is pre-let under a long-term lease to J. Middelkoop Logistics and its subsidiary Rutges Cargo Europe.
After completion, the asset will be added to the portfolio of Deka's WestInvest TargetSelect Logistics sector fund.
