November 16, 2016 – DHG has sold and transferred its developed distribution center located on the Logistic Boulevard 9-11 in Moerdijk to Real I.S .. The development, which consists of two construction phases, started last year on September 1st at risk. Phase 1 was fully leased last July and Phase 2 by November 15th and delivered to the buyer.
The distribution center of 43.560 sqm consists of approx. 37.780 sqm of warehouse space, approx. 3.225 sqm of office space and approx. 2.555 sqm mezzanine and is located in the port of Moerdijk. The whole complex, consisting of 4 units, is fully and long-term leased to Manuli Fluiconnecto (7,5 years), Base Logistics (10 years), AWL Moerdijk (10 years) and Maclean Products (5 years).
Willem Slager, Commercial Director of DHG: “The sale at a NAR of about 5,25% v.o.n. shows that the initial yields for high-quality, long leased logistics properties are still decreasing in the Netherlands. DHG also recognizes the trend that demand for logistics real estate is still increasing. “With the sale of Smartlog Moerdijk 1 we complete a second successful sale transaction of logistics real estate this year. Earlier this year, we sold our proprietary distribution center of approx. 17.000 sqm at the Biezenwei 16 in Tiel against a NAR of approx. 5,30% v.o.n. ” continues Willem Slager.
At present, DHG is developing a second distribution campus in Moerdijk of a total of 101.223 sqm, consisting of two phases. The first DC in phase 1 is leased to Rulewave for 10 years and consists of 17.651 sqm of warehouse space for the storage of both normal goods and packaged hazardous materials goods (ESFR-sprinkler and CO2 gas extinguishing system), 1.310 sqm of mezzanine space and 836 sqm of office space. The second DC of 26.500 sqm in phase 1 will be completed in early April and is available for lease. Early 2017 the construction of phase 2, with a total of approx. 55.200 sqm, will start.
In addition to the developments in Moerdijk, DHG will build another four new distribution centers with a total surface of 213.000 sqm the coming year. These Smartlog DC´s will be located in Bergen op Zoom (about 48.500 sqm), the Harnaschpolder in Delft (about 44.000 sqm) and two distribution centers in Rotterdam-Europoort (total of 120.500 sqm).
Real I.S. was legally advised in this transaction by Houthoff Buruma and Savills acted as technical advisor. DHG was advised by JLL, where Loyens & Loeff N.V. acted as its notary.
ABOUT REAL I.S.
Real I.S. is one of the largest providers of real estate investments for private and institutional investors in Germany. Real I.S. has a portfolio, worth more than € 5.5 billion, under management in thirteen countries around the world and is represented on four locations in Europe and Australia.