Amsterdam,
13
January
2020
|
10:15
Europe/Amsterdam

Perial acquires Adam Smith Building

Perial has acquired the Adam Smith Building, located at Thomas R. Malthusstraat 1-3 in Amsterdam. The building consists of 21,000 square meters office space, spread over a high-rise of 13 floors and a low-rise of 7 floors. The building has 250 parking spaces.

Renovation

The property was built in 2002 and in 2019, it has been fully refurbished including the ground floor, which now offers a new restaurant and coffee bar, both operated by WeCanteen, as well as relaxing and playing areas. The property’s energy performance certificate has been improved to level A and the building now features all modern office specifications.

Rieker Business Park

The Adam Smith Building hosts the HQ of Knab Bank, other main tenants are TKB and Tribes. The office building is located in Amsterdam’s Rieker Business Park. This is a relatively new office location, right between the South Axis and Schiphol Airport. Organisations such as PWC, B Amsterdam, IBM and Brunel are also present in this area. Public discussions are ongoing about a new metro line between Schiphol and South Axis including a station at Rieker Business Park, which should further improve accessibility of the area.

Vacancy rate Amsterdam remains low

Erik Langens, Executive Director Capital Markets
This transaction reflects the high interest in Amsterdam office properties. Due to the current limited availability of well-located, high-quality office buildings, combined with a modest volume of new constructions, the vacancy rate of Amsterdam is expected to remain low.
Erik Langens, Executive Director Capital Markets

The seller was advised by CBRE, Loyens & Loeff and Arcadis. Perial was advised by L’Étoile Properties, NautaDutilh and SGS Search. L’Etoile Properties will assist Perial regarding asset and property management.

See our Real Estate Outlook 2020 for more prospects and expectations for 2020

 

About CBRE

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 awww.cbre.com.