Belgium Case Study

TRANSACTION TYPE & DETAILS

Date: April  2020

Transaction Type: Lease

Property Type: Industrial

Size: 192,600 sq. ft.

Sale Price: €7,198,200

The Coronavirus pandemic has not only caused negative effects, but also significant structural changes. Companies are adapting their strategies and methods to match the changes in our ways of consuming. Consequently, e-commerce is booming all over the world. Maersk, a company developing solutions to meet customer needs from one end of the supply chain to the other, did not want to miss the boat. To facilitate the increase in e-commerce activity, Maersk needed to expand their warehouse capacity, preferably as close as possible to their current logistics facility with the ultimate goal of one large logistics campus.

Client Profile

• Rise in e-commerce activity, combined with other business
• Extra warehouse capacity near existing facility on the same logistics campus
• Creation of logistics campus on a single location

Transaction Profile

• Owner is Logicor, a leading industrial real estate investor, active in the EU and UK
• Maersk is the largest shipping company in the world
• The building is a prime asset, located in the best logistics area in Belgium, between Brussels and the 2nd largest port of Europe, Antwerp.
• Fix lease of 192,600 square feet
• Perfectly located prime asset building, just across their parking yard.

Solution

• Client needed gradually more space within the direct vicinity of their existing DC.
• Broker Christophe Wuyts, SIOR negotiated a phased take up
• Few months of negotiating resulted in a fix lease of the 192.600 square feet warehouse.
• Realized the ultimate goal of Maersk, with a warehouse just across their parking yard.
• Extra economies of scale because of the expansion of their current single logistics campus.

PARTICIPANTS & INFORMATION PROVIDED BY

Christophe Wuyts, SIOR