Union Investment has acquired a logistics development in XL Business Park Twente in Almelo, the Netherlands.
The acquisition is on behalf of Union Investment’s open-ended property fund UniImmo: Europa.
The company acquired the development with Stellar Development Ara Almelo C.V., a collaboration between Heembouw and Stellar Development B.V.
Heembouw will start the construction works of the c. 47,000 m² Ara Almelo logistics and distribution centre in September 2022 and will be completed by the end of September 2023.
“Almelo is a strategic logistic destination near to the Dutch and German border and there has been a high level of leasing activity over the past two years due to high demand and limited supply of land in the traditional core logistics markets” said Stephan Riechers, Head of Logistics Investment at Union Investment.
Stellar Development Ara Almelo C.V. is responsible for the letting of the development which consists of four units, it can be used as both a single-tenant and a multi-tenant building.
The development is located within sight of the A35 motorway and direct alongside the entrance to the XL Business Park Twente. All units will have optimal truck loading access and market standard specifications.
Nature, as one of the Stellar Development brand pillars, is given a central position in the development. The development will be surrounded by a unique nature screen, about 15 meters high and almost a kilometer in length, providing a strong relationship between the building and nature, as well as creating an attractive working environment.
