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NREP Logicenters starts the development of a 38,000 sqm distribution centre in Viared, Borås.
A 10- year lease has been signed with Speed Group
NREP Logicenters, the largest owner and developer of modern logistics properties in the Nordic region, starts the development of another 38,000 sqm distribution centre in Viared, an expansive logistics hub close to Gothenburg, Sweden.
NREP Logicenters will soon start the development of a modern 38,000 sqm warehouse located in Viared, Borås. Speed Group has signed a 10-year lease and expects to move in, in August 2018.
“We are very satisfied that a major logistics player as Speed Group once again has chosen to sign with Logicenters. This strengthens our position in the market and we are looking forward to developing our cooperation with Speed Group. We are now in the final stage of buying the land and expect to start the building process by the end of this year”, comments Matthias Kettelhoit, Commercial Head of Logicenters.
“With this new 10-year lease agreement, NREP Logicenters once again proves the benefit of a consistent market presence and a wide local network, enabling quick development of new properties for tenants. We now further strengthen our presence in Borås and Viared, which is an important new logistics hub in the Swedish market,” continues Matthias Kettelhoit.
“We currently have a very high growth rate, which we are incredibly proud of,” comments Peter Nilsson, CEO of Speed Group. “Our customers’ demands have dramatically increased the need for logistics solutions, and Logicenters has been able to help us finding logistics space both in the right geographical location and
with good sustainable building requirements. We look forward to another 10-year partnership with Logicenters”, says Peter Nilsson.
“The municipality of Borås has for a long time been committed to promoting the growth in the logistics sector. Our offensive venture of developing Viared has attracted great interest from the logistics industry,” says Anders Glemfelt, Business Manager in Borås municipality. “It is very positive that we can create conditions for Speed Group with its strong presence in Borås, so that they can continue to expand and generate jobs”.
The property will be developed in 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.