Copenhagen 20 April 2020 – CBRE Global Investors, on behalf of a separate account client, has acquired a warehouse distribution centre at Kastrup Airport, Copenhagen from Worldwide Flight Services Denmark (WFS) in a sale and leaseback transaction.
The circa 35,400 sqm site comprises c.11,700 sq m of lettable space which has two cross dock-buildings with a newly constructed interlinked cold storage for pharmaceutical products and a three-storey office building with over 60 car parking spaces. The property has direct access to airway runways and the air cargo area.
The asset is let to WFS, one of the largest cargo handling company’s in the world. WFS is the main cargo handler at the Kastrup airport, focusing on business to business operations. Greater Copenhagen is regarded as northern Europe’s hub for pharmaceutical logistics and the tenant intends to expand the facility with a new 3,700 sqm maximum cross-dock in the next three years.
The first-line logistics asset has a unique airport location with excellent accessibility to rail and motorway. The asset fits the portfolio strategy to enhance the direct return, and to further increase its logistics exposure in the main European hotspots.
CBRE Global Investors acquired the adjacent property, fully let to FedEx, in 2015.
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $112.9 billion in assets under management* as of December 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
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