It has been a successful first half year for Logicenters. With 15 important agreements in place regarding acquisitions, leases and new developments, the logistics facility provider strengthens its position on the Nordic markets. Furthermore, Logicenters completed three properties and signed three letters of interest during the first six months of 2018. In total, the fund now owns more than 1,6 millions sqm in the Nordic countries, which makes Logicenters the leading provider of modern logistics properties in the region.
Logicenters’s strategy is to acquire, own and develop high quality logistics properties in important locations and nodes in Sweden, Norway, Denmark and Finland. A strategy that shows good results since the last six months were characterized by new acquisitions, tenants and development projects at strategic locations such as Arlanda, Jönköping, Odense and Hämeenlinna.
During the first and second quarter Logicenters strengthened its portfolio on all markets with eight new lease agreements, on a total area of 113 500 sqm. Three acquisitions has been incorporated amounting 55 000 sqm. The logistics facility provider also completed three properties on a total area of more than 67 000 sqm and started four new developments in the same size. Right before the summer, three new letters of interest has been signed where final negotiations now proceed.
– We’ve been able to further strengthen our competitiveness this six-month period by being agile and always offer adjustable facilities with modern specifications. In addition to the property developments we’ve also strengthened internally with five important recruitments, says Matthias Kettelhoit, Commercial Head of Logicenters.
Flexibility is an essential success factor for Logicenters. To meet e-retailers shifting needs, long-term investments has been made in the facilities. Zalando, Babyshop and soon Bythjul are examples of online stores that utilize Logicenters’s properties as distribution centers.
– Our business model is tailored to customers with changing businesses and the flexibility makes us suitable as a long-term partner. We were well prepared when the e-commerce market advanced and could therefore fully support their businesses from the start. Now, we expect an equally strong second half-year and are planning several establishments in areas such as Brunna Logistikpark, Ventrupparken and Viared, says Matthias Kettelhoit.
Brunna Logistikpark, 30 km north of Stockholm, will be the new site for Bythjul Norden’s distribution business. Logicenters has signed a seven-year lease agreement with the tire reseller regarding the Viby 19:102 property at Mätarvägen 27. Brunna is a strategically well situated logistic park for e-commerce actors. Logicenters also leases to Bythjul’s future neighbour Autoglas. In addition, a property has been built for Zalando in the same area. Bythjul will be moving into a 11 319 sqm property, specially adapted for its operations at the end of 2018.
– This property offers very good communications to other parts of Sweden with its close proximity to Stockholm. In addition to the strategic location, there are also good opportunities to adapt the property to any future needs, which is not uncommon for e-commerce companies, says Matthias Kettelhoit, Commercial Head of Logicenters.
The facility is a new investment for Bythjul which will be now insourcing its logistics solution from a previous third-party provider. Thus, improving its customer offer. In 2015, Bythjul had an area of 3 500 sqm. Now, three years later, they are moving to a facility three times larger. The move also involves 30 new jobs within the company.
– When we decided to rent our own warehouse instead of using a third-party solution, it was important to work with a partner who understands the requirements and has the ability to adapt to our needs. Logicenters is absolutely best suited for the task and with the strategically located property in Brunna, we see potential for improving our customer offer, says Jan-Erik Stock, COO at Bythjul Norden.
Bythjul is the Nordic region’s largest e-commerce for tires and rims, active in Sweden, Norway and Finland. With a turnover of more than 300 million and a Nordic service station network consisting of over 1 200 service stations, Bythjul ensures high service from north to south. Bythjul is owned by Mobivia, which operates Europe’s largest independent workshop chains. Mobivia has a turnover of more than 27 billion and has 22 000 employees in 19 countries.
Logicenters, the leading owner and developer of modern logistics properties in the Nordics, acquires a 9,000 sqm property from a fund managed by Auratum Kiinteistöt Oy. Located in the Moreeni industrial area of Hämeenlinna, the property is leased out to Posti Kiinteistöt Oy.
The buyer of the property built in 2012 is Logicenters. Posti operates a distribution center in the property for rigid packaging solutions manufacturer Coveris Rigid Finland, which has a factory located cost-efficiently in the neighboring building.
A passageway connects the logistics center to the factory located next door, and the logistics process between the factory and warehouse is fully automated. Excess heat generated in the factory can also be utilized in the warehouse via the heat distribution system installed between the buildings.
– We are very pleased about the opportunity to expand our portfolio in Finland with this modern logistics property. The investment is well in line with Logicenters’ strategy of developing and acquiring modern logistics properties in good locations across the Nordics. With the acquisition, we are also expanding our cooperation with Posti to Hämeenlinna, says Antti Toropainen, Investment Manager at Logicenters.
The logistics center is situated in the Moreeni logistics and industrial area of Hämeenlinna, providing a central location at the intersection between Helsinki, Tampere, Turku and Lahti. The area, located at the intersection of major freeways, is well-suited for distribution centers. Several logistics companies, large manufacturers and wholesalers operate in the area. The logistics property can be expanded in the future if additional space is needed for distribution purposes.
A new deal has been signed between Logicenters and Skanska, that concerns a new development of a distribution center in Arlandastad. Skanska will be the contractor and build a modern logistics facility with a total area of 24 600 sqm. A lease agreement is also signed with Aditro Logistics. The tenant moves in when the facility is scheduled to be completed, second quarter 2019.
The new deal between Logicenters and Skanska involves the development of a 24 600 sqm logistics facility in Arlandastad, that Logicenters acquires. The development starts immediately and Skanska is the contractor. The property is scheduled to be finished during the second quarter of 2019. The facility will have modern specifications and be adjusted to fit the tenant Aditro Logistics’s business.
– Arlanda is one of Sweden’s best logistic spots, which is the reason why we own land in the area. We are very positive about the deal with Logicenters and that we’re now starting the development, says Henrik Ahnström, Business Area Manager at Skanska Fastigheter Göteborg AB.
Arlandastad is an established corporate area in a strategic location. The area has, with is proximity to both Stockholm City and Arlanda Airport, become an important and growing node in logistics. The new logistics facility will be located at Norslunda 1:19 with great visibility from the E4 highway.
– The development in Arlandastad is completely in line with our strategy to focus on logistics facilities with modern specifications in great locations. We are proud of the collaboration with Skanska and are looking forward to when Aditro Logistics starts to utilize the building, says Matthias Kettelhoit, Commercial Head of Logicenters.
– We are excited to enter this deal and are looking forward to the collaboration with Logicenters as well as Skanska. This is the fourth unit in five years that we’re establishing together with Logicenters and we have great confidence in the development. The choice of Arlandastad is mostly based on the closeness to Stockholm to further support the strong growth we see in e-commerce. Right now, we’re projecting a completely automated solution for this building, which will strengthen our customers’ competitiveness, says Johannes Gussander, CEO at Aditro Logistics.
As a part of further establishing Logicenters as the leading player within modern properties in the Nordics, three important recruitments in Norway, Finland and Denmark has been made. Further strengthening is planned in Sweden where Logicenters is searching for a Business Analyst.
Logicenters continues to make investments to improve and extend their position as a leading player within modern properties. A total of three recruitments has been made in Norway, Finland and Denmark.
– We are in the middle of an expansion phase, therefore these are three important and solid recruitments. This will ensure our continuous growth and keep our competitive edge. All three recruitments will be great assets in our team and will definitely bring a new perspective and something new to the table, says Matthias Kettelhoit, Commercial Head of Logicenters.
Jarkko Äikää will be Commercial Director at Logicenters in Finland, where he will be taking the lead in developing the Finnish business within Logicenters. Jarkko has broad experience from the logistics industry and he has earlier worked as Production and Logistics Manager at both Hansaprint and Tammi Publishers in his early career. From there he went on to work as Production Manager and Key Account Manager at Sanoma Magazines and HUB Logistics Finland Oy, respectively. During his time at HUB Logistics he went on to become Business Director, which was his most recent employment.
Jørgen Bråten Nordby has been signed to manage all aspects of investment and asset management activities within logistics properties for Logicenters in Norway. He has experience as management consultant and private equity associate in Arkwright and Credo Partners. Before signing for Logicenters he worked at Pangea Property Partners. He holds a M.Sc. in Advanced Economics and Finance from the Copenhagen Business School.
Marcus Holmgren Vigsø will be joining the Danish Logicenters team in the role as Junior Asset Manager. He has just finalized his Masters in Finance & Investments. During his studies has worked within Real Estate at VALAD Denmark A/S as well as the Telecom industry with TDC A/S.
Recruitment in Sweden is also pending, since Logicenters are looking to support the organisation with a Business Analyst.
Logicenters will be developing a new facility at Vejleåvej 11, Ishøj just outside of Copenhagen. A contract has been signed with Havi Logistics which will be leasing 4 500 sqm. Logicenters is looking for tenants for the remaining 8 900 sqm which is currently vacant. The development is scheduled to be finished by April 15, 2019.
The new facility that Logicenters will be developing is located outside of Copenhagen at Vejleåvej 11, Ishøj. It is scheduled to be completed April 15, 2019. The total size of the planned facility will be 13 400 sqm. Havi Logistics has signed a lease for 4 500 sqm of the facility which includes freeze, cooled and traditional warehouse. The remaining 8 900 sqm are currently vacant and Logicenters are positive about finding future tenants.
– We´re happy to be developing a new facility in a strategic location like Ishøj. Havi Logistics will find their logistics needs suited in the new facility with modern specifications and we are happy that we can offer another 8 900 sqm of modern warehouse to other tenants, says Mikael Olesen, Asset Manager at Logicenters.
– It has been a strategic decision for Havi Logistics to establish a new distribution center close to Copenhagen, and during the process Logicenters has made an effort to understand our needs to ensure that the new building will meet our requirements, says Jørgen Juul Bertelsen, Regional Director of Havi Logistics.
– Logicenters has been an important partner in the development of the new transport and logistics area Winthersminde in Ishøj. This new development will create further job opportunities and attract new business. These modern logistics facilities are a contribution to the municipality and we’re looking forward to continuing to work with Logicenters, says Ole Bjørstorp, Mayor of Ishøj municipality.
For additional information, please contact:
Matthias Kettelhoit, Commercial Head of Logicenters
Phone: +46 70 583 44 06
The new section of the property Værftsvej 10 in the port of Køge was completed and DKI Logisitics A/S will start operations from the expansion end of April. The development has concerned the construction of a new distribution center. In total, an area of 12 140 sqm has been added to the existing 31 100 sqm building. The property is now adapted to suit the need of DKI Logistics A/S and will be used for their third-party logistics in Copenhagen and it´s vicinity.
– Since we acquired the property we´ve been working with the development of the new modern distribution center, which now stands completed. The development is also an important step in strengthening Logicenters’ presence in strategically vital logistics nodes in Copenhagen’s close proximity, says Lars Hansen, Investment director, Logicenters.
– The property is important to us and with the newly built section we have good possibilities to continuously grow our business. Working long-term with our partners is crucial to us, which is one of the reasons we chose to work with Logicenters. We´re now looking forward to start utilizing our new, modern central warehouse, says Preben Borregaard, Chairman of board, DKI Logistics A/S.
Dansk Halentreprise A/S was the turnkey contractor for the expansion of property.
For additional information, please contact: Matthias Kettelhoit, Commercial Head of Logicenters E-mail: email@example.com Phone: +46 70 583 44 06
Logicenters is a leading provider of modern logistics properties in the Nordics with a presence in Sweden, Denmark, Norway and Finland and over 1.3 million square meters of logistics space. We develop, re-develop and own modern logistics properties in virtually all key locations in the region. We are specialized in modern logistics, with all our properties meeting the high standards of quality, efficiency and flexibility demanded by world class logistics operations. Logicenters was formed by NREP in 2015.
More info: www.logicenters.com
The new deal concerns a seven year lease with one of Denmarks largest retail chains which will be the new tenant of the property Park Allé 381, Vallensbæk. The property will be remodelled to fit the needs and provide a solid foundation for future logistics. Development will start during the spring and will involve converting the ware house´s low ceiling into a new modern high ceiling as well as installing docking doors and upgrading the general look of the facility.
– We’re looking forward to start the re-development. The new remodelled property will hold several new features that characterizes a modern logistics facility. Logicenters has great expertise within this type of property re-development, we always build and develop with focus on the future and the client, says Mikael Sahlin Olesen, Asset manager at Logicenters.
The property is located logistically well, just 15 km outside the centre of Copenhagen. It was acquired in 2015 as a development case with potential of becoming a modern logistic property.
For additional information, please contact:
Matthias Kettelhoit, Commercial Head of Logicenters E-mail: firstname.lastname@example.org Phone: +46 70 583 44 06
Logicenters is a leading provider of modern logistics properties in the Nordics with a presence in Sweden, Denmark, Norway and Finland and over 1 million square meters of logistics space. We develop, re-develop and own modern logistics properties in virtually all key locations in the region. We are specialized in modern logistics, with all our properties meeting the high standards of quality, efficiency and flexibility demanded by world class logistics operations. Logicenters was formed by NREP in 2015.
More info: www.logicenters.com
The logistics property in Stigamo is now expanding with Babyshop as tenant. The area of the facility will duplicate with an additional 22 550 sqm. In connection to the development, the logistic property provider Logicenter’s leasing agreement with Babyshop is extended.
In June 2017, Logicenters acquired the property in Stigamo, Jönköping. The facility is developed by Reach Fastigheter and located strategically in a logistic hub with visibility towards E4 highway. To further support Babyshop’s growing e-commerce the distribution center is now expanding in close cooperation with Logicenters and Qvana Invest. The property’s size will increase with an additional 22 550 sqm, to a total area of 43 000 sqm.
– The facility is in line with our strategy to develop and own logistic properties with modern specifications. We are excited to continue the development of the logistics for one of most prominent e-commerce companies in Sweden and to gain further knowledge and insights into the logistical requirements that the future e-commerce faces, says Matthias Kettelhoit, Commercial Head of Logicenters.
The new part of the property will primarily be used for pallet racking since the automated system AutoStore will occupy a larger area of the property’s existing part. Currently, the distribution center employs 60 people. A figure that Marcus Tagesson, CEO at Babyshop, believes will increase to a few hundred within a few years. In connection to the expansion, the initial 10-year leasing agreement is also extended by two additional years.
– In order to succeed with strong growth in e-commerce, modern and flexible logistics is elementary. We are now expanding further and are pleased to have found strong logistics partners in both Logicenters and Qvana Invest, says Marcus Tagesson, CEO at Babyshop.
For additional information, please contact:
Matthias Kettelhoit, Commercial Head of Logicenters
Phone: +46 70 583 44 06
NREP Logicenters, the largest owner and developer of modern logistics properties in the Nordic region, acquires a new built 8,500 sqm property in Viared near Borås, a growing logistics location in the west of Sweden.
NREP Logicenters has acquired a new built 8,500 sqm logistics property in Viared near Borås from JBCC Förvaltning and EPA Business. The tenant is Didriksons AB and the property is used as their central warehouse for distribution across Sweden.
The property was completed in 2017 and is strategically located in the new extension area of Viared near Borås, east of Gothenburg city. The property has close proximity and great visibility towards highway 40.
”We are very happy to further strengthen our partnership with JBCC Förvaltning and to continue developing high quality logistics facilities in Borås. The acquisition is a great addition to our logistics portfolio and combines modern specifications with strong cash flows from a 10-year lease with Didriksons AB,” comments Jonathan Ahrens, Investment Manager at NREP Logicenters.
“With this transaction, NREP Logicenters continues to prove the benefit of a consistent market presence and a wide local network, enabling us to source transactions. We now strengthen our presence in Borås, where we are in the process of developing a new warehouse for Speed Group and already have tenants as DSV, Aditro Logistics, Speed, and Cross Nordic. This shows that Borås is an important logistics location in western Sweden,” comments Matthias Kettelhoit, Commercial Head of NREP Logicenters.
Jan Lindberg at JBCC Förvaltning comments: “We are very satisfied with our long collaboration with NREP Logicenters. We share the same values and ideas about how to develop modern logistics properties with high quality, which has always been our signum.”
The property was acquired by NREP Nordic Strategies Fund II, which mainly focuses on logistics, residential and retail properties in the Nordic region and is backed by a number of international blue chip institutional investors. The fund made its first investments in the spring of 2016 and has an investment capacity of more than EUR 1.5 billion.