OCP sells shopping center in Vlijmen to Heeneman & Partners
Orange Capital Partners (OCP) sells the Oliemaat shopping center in Vlijmen (near the city of Den Bosch) to Heeneman & Partners, a fund manager who purchases it on behalf of supermarketfonds.nl. Oliemaat is located in the center of Vlijmen and comprises approximately 4,500 sq. m., 85% of which is convenience retail. As the largest tenants, Jumbo and Aldi are responsible for more than 70% of the rental income, supplemented by a number of (local) entrepreneurs.
Casper Vernooij, Partner at Orange Capital Partners: “The two largest tenants have recently extended their lease in the center. In combination with the modernization and expansion of both supermarkets, this confidence radiates from the retailers in this conveniently located shopping center.”
Mark Tordoir (Real Estate Director at Heeneman & Partners): “This purchase further strengthens our portfolio. The steady market area of Vlijmen, the powerful combination of Aldi and Jumbo and the large adjoining car park (165 free places) together form security for the future and are therefore a good addition to the portfolio.” Supermarktfonds.nl continues to look for new purchases.
Strong interest in convenience
Lodewijk Buijs, Director Retail at CBRE: “This shopping center attracted the attention of various investors. It is conveniently located in the center of Vlijmen with a dominant component of income from convenience-driven tenants, an important criteria for the majority of retail investors today. The long-term cash flow makes this investment product very suitable for an investor such as Heeneman & Partners."
Oliemaat shopping center is part of a larger portfolio of convenience driven shopping centers, which Orange Capital Partners is currently marketing together with CBRE. Several sales from this portfolio are expected to follow shortly.
The seller was legally assisted by Loyens & Loeff and advised commercially by CBRE. The buyer was assisted by Lexence and Rechtstaete.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.