Launch of first development of ca. 21,400 m² at Logistics Park A12 in Waddinxveen (NL); Isero IJzerwaren BV signs a triple net 15-year lease for ca. 12,800 m².
In 2017 Wayland Real Estate and Montea signed an agreement for the development of “Logistics Park A12,” a plan area of 206,000 m² where more than 130,000 m² of logistics real estate can be developed. Montea announces the development of a first project of a ca. 21,400 m² warehouse, including offices and mezzanine at Logistics Park A12 in Waddinxveen.
Isero IJzerwarengroep BV signs a triple net 15-year lease for ca. 12,800 m²
A triple net 15-year lease for ca. 12,800 m² has been signed with Isero IJzerwarengroep BV. The Isero IJzerwaren group is a wholesaler for architectural hardware, tools, fasteners, work clothing and PPE in The Netherlands. The Isero IJzerwaren group comprises Gerritse IJzerwaren, Breur Ceintuurbaan, Van der Winkel, Probin Kaatsheuvel and Pijnenburg Bouw en Industrie (www.isero.nl). The remaining part of ca. 8,600 m² is still available for rental.
The new build-to-suit project is expected to be operational in May 2019.
Hylcke Okkinga, Netherlands manager for Montea: “This development meets the highest sustainability requirements and is a fantastic addition to our portfolio: a quality tenant and a top location.”
Bert Bunschoten, general manager, Isero IJzerwarengroep BV: “With this new distribution centre we can integrate our logistics and achieve our further growth ambitions. In addition, we can provide better support for our new webshop and build an organization with supporting service at a single location.”
Launch of development for DocMorris of an extension of >20,000 m² at the existing site in Heerlen (NL). DocMorris signed a triple net 15-year lease for the extension.
In September 2014 Montea, together with Bouwbedrijf Van de Ven, developed a build-to-suit project of ca. 15,500 m² for DocMorris on the Avantis industrial estate in Heerlen (NL), at the border of the Netherlands with Germany.
Today, DocMorris and Montea signed an agreement for the development of a new distribution centre adjacent to the current site in Heerlen (NL). A facility of >20,000 m² will be built and will comprise a warehouse and offices. A connecting corridor will link this extension to the existing site, which after the development will total ca. 35,500 m².
DocMorris N.V. and Montea signed a lease for a fixed term of 15 years for the extension. DocMorris is the best known pharmacy brand in Germany (www.docmorris.de).
The construction of the new build-to-suit project, which is scheduled for completion in the third quarter of 2019, will start in November 2018.
Olaf Heinrich, CEO of DocMorris : “We are delighted that we were able to bring Montea onboard as a partner for the extension of our logistics infrastructure and facilities. We will set new efficiency standards in the pharmacy market with the new building. In addition, we are creating room for further growth and the development of our leading market position in Europe”.
Positive impact of these developments on the main objectives of Montea
Taken together, the two developments represent an investment value of €45 million, as a result of which Montea has the overview to increase its portfolio to € 875 million in 2019. Given the 15-year term, these contracts will further improve the average term of > 8 years on the first expiry date. The share of Dutch real estate in Montea will rise to 40% upon delivery of the projects.
Upon full letting, the initial yield will amount to 6.75% and the rental income will go up by € 3 million.