Partylite sells European distribution centre to Gramercy Europe
PartyLite has sold its European distribution centre in Tilburg to the British real estate investor Gramercy Europe. The distribution centre is located at Gesworenhoekseweg 8 on Vossenberg-West business park in Tilburg and consists of 40,618 sq. m. of industrial spaces and office space.
As part of this transaction, Gramercy Europe will become PartyLite’s new landlord. The lease between PartyLite and Gramercy was signed before the centre was sold. A sublease has also been signed for an area of approximately 10,000 sq. m., which PartyLite will sublet to a third party.
Vossenberg-West is a popular location. Due to its strategic location, various other large brands such as Coolblue, Tesla and Samsung have also located their logistical services there.
CBRE advised PartyLite during the lease, sublease and sale. Nauta Dutilh provided legal guidance. During the sale, Industrial Real Estate Partners provided Gramercy Europe with commercial advice, and Loyens & Loeff provided legal advice.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.