Retail Estates acquires retail parks in Breda, Naaldwijk and Zaandam
Retail Estates N.V. has recently purchased three large Dutch retail parks located in Breda, Naaldwijk and Zaandam. These parks have a total surface area of approximately 75,000 sq. m. and were sold by ShoppingParks N.V., an investment product from Freeland Partners.
The retail portfolio consists of 56 individual retail units, all of which are currently let. This represents an expansion of Retail Estate’s existing real estate portfolio in our country. The Belgian investor has previously acquired retail parks in locations such as Heerlen, Zwolle, Cruquius, Spijkenisse, Apeldoorn, Middelburg, Veenendaal, Roosendaal and Alphen aan den Rijn. In total, Retail Estates now has 218 retail units at 13 different locations in the Netherlands.
Léon Overhorst, Senior Director at CBRE, commented: ‘We are clearly seeing increasing interest in retail parks, especially those that enjoy a dominant position within their region, with a strong tenant mix and optimum parking facilities. Such parks have long had high occupancy rates, with rising rents. That makes them sought-after investment products. It’s good to see that these three parks will remain in the hands of a true retail park specialist.’
CBRE advised ShoppingParks N.V. regarding this transaction. Houthoff provided legal advice to the vendor, and Van Doorne provided legal advice to the purchaser.
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.