Seller is the Milton Group. Buyer is a logistics fund, represented by M7 Real Estate.
The transaction includes four properties, comprising a total of 74,000 sq m and located on Egeskovvej 2, 4-6 and 7 in Horsens. The properties are situated in the most attractive industrial area in Horsens, east Jutland – a few minutes from motorway E45. They are fully let to DSV as well as to two minor tenants and appear as state-of-the-art. The properties are relatively new and meet all demands from the logistics companies, including a high floor-to-ceiling height and a flexible layout.
Colliers International Danmark brokered the transaction, and the Capital Markets advisors report of a strong interest in this exact kind of properties.
“Over an extended period, we have now experienced a great demand from international investors, who specialise in warehouse and logistics properties. The investors target prime and modern properties as well as portfolios of a certain volume. So, this project was spot on in relation to these criteria,” says Anders Holm, Director, Colliers Capital Markets, and adds that Colliers has other similar projects in the pipeline.
“Naturally, the investors also find it very important that the properties are of a high quality, so they meet the demands of the logistics industry and can stay occupied without difficulties. Right now, the vacancy rate for logistics properties has reached an all-time low, and as a result modern, existing warehouse and logistics properties are very popular. The vacancy that does exist in the market on locations close to the motorway grid is mainly because the properties are outdated in relation to floor-to-ceiling height, number of gates and accessibility,” ends Anders Holm.
In 2018, the vacancy rate of warehouse and logistics properties fell under 3% in east Jutland, and in 2019, the rate is heading for the lowest level yet within a 10-year period.
Colliers International, Anders Holm, T: +45 27 20 04 20