Geodis, Venlo, Netherlands
Geodis, Venlo, Netherlands
Location: Geodis, Venlo, Netherlands
Size: 57,000 sq m
Sector: Logistics
Rationale for Purchase:
Sale and leaseback deal with Geodis, one of Europe’s top five logistics companies, for an existing 57,700 sq m warehouse and an extension of 21,700 sq m. Geodis have a 10 + 5 year lease with a break option at 5 years.
Venlo is one of the leading logistics locations in The Netherlands with immediate proximity to the German logistics markets.
Geodis is an excellent quality tenant with a long history at this location. They have recently exercised their option and have taken occupancy of the extension.
Good strategic position in a new sector and a new country where logistics is one of the identified acquisition targets for the Fund.