NREP Logicenters continues to strengthen its position in the Oslo region with a record-breaking acquisition of one of the Nordic region’s most sophisticated distribution centers. The acquired property is a 27-metre high-quality property measuring 84,800 m2 let to the grocery retailer Coop.
The logistics property company Logicenters continues to establish and consolidate their presence in strategic logistics hubs in Norway. Right beside Oslo Airport, Logicenters has acquired a first-class 84,800 m2 logistics facility from Møller Eiendom and Stokke Industri. Norway’s second largest grocery chain, Coop, is the long-term tenant of the property. There is an opportunity to expand the facility further, and Logicenters is looking forward to explore development of the property together with Coop.
“I am very proud to announce the off-market acquisition of this first-class logistics facility at one of Norway’s most attractive logistics hubs. It is in line with our long-term strategy to acquire properties of this particular quality. It is not a coincidence that the two largest logistics facilities in our property portfolio, this one and one in Bålsta, will be used by companies in the grocery segment. This is an industry which is less affected by market cycles than other industries as there will always be a demand for food,” says Matthias Kettelhoit, Head of Logicenters.
The property is fully automated and has refrigerated, freezer and temperate warehouse sections, enabling the tenant to handle large volumes of goods. In line with Logicenters’ sustainability and energy efficiency strategy, there is an opportunity to install solar panels on the property, both on the roof and on the facades.
“As one of the Nordic region’s leading real estate investors, we are always striving to intensify our presence at strategic locations around the region – and this is exactly what we have done here. This acquisition is the single largest investment we have made in logistics and it is also the latest addition in our ambition to further expand NREP’s presence in Norway. We would like to thank Møller Eiendom and Stokke Industri for their excellent collaboration. We look forward to continuing our partnership with Coop at this property,” says Jens Petter Hagen, Partner at NREP Norway.
CBRE has acted as commercial advisor for NREP Logicenters in this transaction, while Wikborg Rein has acted as legal advisor.
The partnership between Møller Eiendom and Stokke Industri has owned and developed the property since it was finalized in 2015. The investment was done with a five-year perspective.
“We are very pleased to have reached an agreement with NREP. Their focus on development of modern logistics properties and long-term ownership is a good match for both the property and the tenant,”, says Thomas Sletten, Chief Investment Officer at Møller Eiendom.
Pangea Property Partners has been exclusive sell-side advisor for Møller and Stokke. The law firm Thommessen has also advised the sellers in the transaction.
Logicenters is experiencing a strong expansion phase and is in the process of strengthening its team significantly. To support the logistics property company’s continued growth and ambitious goals, Logicenters has acquired six new employees. These include a Sustainability Manager in order to further strengthen Logicenters’ work on sustainability.
Logicenters is today the leading developer and long-term owner of modern and sustainable logistics properties in the Nordic region. Over the past decade, Logicenters has been the most active developer of logistics properties with more than 25 completed projects and over 600,000 square metres of logistics space. Logicenters is now a Nordic team with offices in Sweden, Denmark, Norway and Finland.
The flourishing e-commerce sector over recent years is just one of the reasons why Logicenters has enjoyed a continued increase in its real estate holdings and strong organisational growth. In order to keep pace with this rate of growth, Logicenters is now reinforcing its team by adding a number of new positions. This includes two new Commercial Managers – Ruben Krantz in Norway and Fredrik Nygren in Sweden.
Logicenters, who are connected to RE100 through NREP, also has high sustainability goals and are working continuously to make its properties more energy efficient. For example, earlier this year, construction began on what will be the Nordic region’s largest rooftop solar cell plant, in terms of both area and capacity. With the aim to further strengthen NREPs work on sustainability, Logicenters has now recruited Karin Sjövall in the role of Sustainability Manager, with a main focus on logistics properties. Karin most recently worked at Nordic Property Management as a Project Sustainability Manager.
“It feels really great to team up with even more smart, driven and engaging people who understand what our customers value. I am absolutely positive that our new colleagues will contribute to our continued growth and help to ensure that our high business goals are achieved. Together, we will continue to develop and manage the Nordic region’s most modern and sustainable logistics properties. And we will take Logicenters to the next level”, says Matthias Kettelhoit, Head of Logicenters.
Logicenters has also recruited Andreas Luczak as a Transactions Associate, Erik Karlsson as a Business Analyst and Kalle Nurmos as an Asset Manager. In addition, the logistics property company is currently looking into further recruitments in order to support its rate of growth.
Logicenters, NREP, has announced the purchase of further land in Vestby, Norway. This time it is a substantial land plot of 100,727 m². This latest acquisition means that Logicenters now owns land for development totalling 128,000 m² in the area. Ground preparation is currently in progress, and the logistics property company predicts that the first property can be ready for tenants in the beginning of 2022.
Logicenters is continuing to establish in strategic logistics hubs throughout the Nordic region. The logistics property company has now acquired a substantial land plot at Toveien 21 in Vestby Næringspark, just south of Oslo. The site was purchased from the investment company Ferd Eiendom.
Logicenters is already well established in the area. Since 2016, Logicenters has purchased 130,000 m² of land and developed facilities totalling 56,000 m² in Vestby, including a new development of 12,000 m² which is scheduled for completion in early 2021, and during this spring, the logistics property company acquired additionally 27,000 m² of land with a potential footprint of ca 70%. With the latest land acquisition of just over 100,000 m², Logicenters has now secured its position for ongoing development in the logistics park. The ground conditions at the newly acquired plot should be of excellent quality, which is key for logistics facilities with high load bearing requirements.
“Vestby is a very attractive logistics cluster for many companies. It is therefore important that we strengthen our presence in the area in order to develop more high-quality facilities for modern logistics operations. We have been very successful in Vestby and this new land acquisition will allow us to continue developing and renting out logistics properties to companies with high demands, positioned at the forefront of their industries. This acquisition will enable us to offer properties for both large and small tenants. We look forward to welcoming our first tenants in early 2022,” says Matthias Kettelhoit, Head of Logicenters.
Vestby Næringspark is located in Oslo’s southern logistics corridor. The business park has an optimal strategic location for warehousing with its close proximity to the E6 motorway and Oslo. Logicenters’ latest land acquisition is one of the few large-scale development areas with direct proximity to both the E6 motorway and Oslo.
Logicenters is scaling up in Norway by strengthening its team with a key hire to support its future growth. The logistics property provider has recruited Ruben Krantz as Commercial Manager for Logicenters in Norway. Krantz has substantial experience in the logistics industry, most recently as Director of Business Development at Colliers.
Logicenters is expanding significantly in Norway. Through both land acquisitions and new developments in Vestby, just outside Oslo, the logistics property company has expanded its presence in Norway substantially in 2020. In order to support future growth and as part of its continued investment, the company has recruited a Commercial Manager for Logicenters in Norway, Ruben Krantz, who will be responsible for the continued business development in Norway.
“We are delighted with this appointment. Ruben has valuable experience of the industry, a wide network of connections and a good understanding of what our customers need. Logicenters is in a strong growth phase and Ruben will have an important part to play in the company’s future investment in Norway. I would like to warmly welcome Ruben to our team and I look forward to working together onwards,” says Matthias Kettelhoit, Head of Logicenters.
Ruben Krantz has substantial experience and understanding of logistics in Norway. His most recent position was as Director of Business Development at Colliers and prior to that as Business Developer at Malling & Co Markets. He will now become a key person in Logicenters’ team where he will be managing the logistics property provider’s future investments in Norway.
“Joining such a successful and ambitious brand such as Logicenters is something I am very proud of and humbled by. My goal is to support Logicenters growth to being the leading logistics property provider in Norway and I look forward to developing the business further in collaboration with my new team,” says Ruben Krantz.
Logicenters is now scaling up and expanding its presence in Vestby, Norway, with a new land acquisition in the area totalling 27,000 m². The logistics property player is then expected to develop a logistics facility of approximately 13,500 m² at the newly acquired site, which is centrally located in Vestby Business Park.
Logicenters is continuing to consolidate and expand its presence at strategic logistics hubs in the Nordic region. It has now acquired additional land at Stormåsen 42, in Vestby, just south of Oslo, Norway. It is expected that up to 70 percent of the 27,000 m² site will be built on as part of Logicenters’ investment in the further strengthening of its presence in Vestby.
“For Logicenters, not only is it important to establish ourselves in geographically strategic logistics hubs, but also to continue to strengthen our presence in these areas. This is precisely what we are currently doing with this land acquisition. Vestby is ideally suited for logistics and its close proximity to Oslo makes it very attractive to many companies. We are very much looking forward to being able to develop further high-quality logistics facilities in the area,” says Jens Petter Hagen, partner at NREP Norway.
Vestby is located in Oslo’s southern logistics corridor close to the E6 motorway and close to Oslo itself. Logicenters already has a presence in the area with a modern logistics property measuring 44,049 m², as well as the ongoing development of a 12,000 m² property which is scheduled for completion in early 2021.
Logicenters is continuing to strengthen its presence at strategic logistics hubs in the Nordic region. The logistics property company will develop a 12,000 m2 logistics facility in Vestby, Norway. The first tenant, BH Nordic AS, has already signed a lease of 5,800 m2 of the property. The development will begin in March 2020 and the property is scheduled for completion by February 2021. 6,200 m2 will become available for additional tenants.
Logicenters is about to begin developing a property at Torvuttaket 22 in Vestby, just south of Oslo in Norway. The property will have a lettable area of 12,000 m2 and is scheduled for completion in February 2021. The building will be developed in line with Logicenters’ clear focus on sustainability. The property will also be BREEAM certified, which is an environmental certification that places strict requirements on the property’s sustainability performance. There will also be an option to install solar panels on the roof of the property, aiming to provide tenants with green electricity without increasing total cost for the tenants.
The first tenant to sign a lease at the new property is BH Nordic AS, better known as Barnas Hus, a specialist within children and baby products. BH Nordic AS and Logicenters have signed a lease for approximately 5,800 m2 of the property. The remaining 6,200 m2 will be available for additional tenants, as the property is prepared as a multi tenant property.
“We are delighted to offer BH Nordic a new warehouse in Vestby. It is a company that, in our experience, has a serious environmental focus and priorities high quality working environment for its employees, which is reflected in the layout of the new premises and has contributed to develop good solutions. The remaining 6,200 sqm will represent flexible lease structures for tenants with respect to size and contract terms. Vestby is a geographically strategic logistics hub in close proximity to Oslo and we are happy to be able to further strengthen our presence in the area,” says Jørgen Bråten Nordby, Commercial Manager, Logicenters Norway.
“We at BH Nordic and Barnas Hus are very pleased with our new and efficient premises in Vestby. Barnas Hus is Norway’s leading specialist shop for equipment and clothing for babies and children and we will use this logistics centre to further develop our rapidly growing online store and to serve our 25 physical stores with excellent products. BH Nordic and Barnas Hus engage in sustainability, we are Eco-Lighthouse certified, and the new BREEAM certified building represents one of our initiatives within this field. We are looking forward to relocating to Vestby and the entire organization is also looking forward to using efficient and environmentally friendly premises. This property will be perfect for us,” says William Skaar, Finance and IT Director at BH Nordic AS.
Motek AS has become a new tenant in Logicenters’ property at Fjellbovegen 9 in the attractive Berger area of Oslo. Moving in is scheduled to begin in early 2020 and the company will lease an area of 12,571 m2.
Logicenters has signed a lease agreement with Motek AS. The contract covers an area of approximately 12,571 m2, which means that the property is now fully let. The logistics facility is located on Fjellbovegen 9 in Berger, outside Oslo. The previous tenant was Bertel O Steen which had the opportunity to move out before its contract expires in April 2020. Motek AS will move in during the first part of 2020 and will lease all parts of the property.
“It feels great to announce that we have signed an agreement with Motek AS, which will be the new tenant at Fjellbovegen 9. Following planned tenant improvements on the property at the end of 2019, we look forward to Motek AS moving in at the beginning of 2020. Berger is an area attractive to tenants and Logicenters has focused on finding a tenant able to lease the entire property, something we have now succeeded in doing,” says Jørgen Bråten Nordby, Commercial Manager, Logicenters Norway.
The property is ideally situated at Fjellbovegen 9. Of a very high standard, it has a spacious loading yard including 18 loading docks. Berger is considered to be the most attractive logistics location along Oslo’s northern logistics corridor. Logicenters’ property is located in close proximity to the E6 motorway, which extends from Oslo to Gardemoen airport and further into Norway. Its proximity to the Alnabru terminal, which is Oslo’s main terminal for cargo handling and transport, increases the attractiveness of the area even more.
For the past two years, Logicenters has invested heavily in its project development department, more than doubling the number of employees. Under the leadership of the company’s Head of Development, Eva Sterner, the department will expand further and scale up initiatives in both area efficiency and environmental work. However, Eva Sterner would also like to attract more women to a male-dominated industry.
With a PhD under her belt and a background as Technical Director Due Diligence at WSP and Managing Director at Watts, Eva began working at Logicenters seven years ago. According to Eva, it is the growth journey, a steady flow of interesting projects, and above all, her colleagues who have been significant reasons behind her becoming a long-term presence at Logicenters. In recent years, both Logicenters and her own department have grown significantly. According to her, this is both because the organisation is flexible and has great ambitions, but also because Logicenters is comprised of people who are driven to do things in new and innovative ways.
Eva Sterner is currently head of Logicenters’ project development department, which has expanded from two to eight people since 2017, with further recruitments planned. Central to this future development is the continued ability to attract talent, with Eva particularly wishing to encourage more women and girls to apply to the logistics industry. An industry which has until now been male dominated.
“I am proud to work for a company with such great ambitions and which allows all its employees to grow. As I personally had no female role models in the logistics industry, I would like to be a role model for girls wanting to work at smart logistics properties. For this to be possible, female employees must be both encouraged and promoted. I believe that Logicenters does this every day, which is something I see as both modern and important,” says Eva Sterner, Head of Development at Logicenters.
The project development department has a great responsibility regarding procurement, contact with tenants, property development and the contractual parts of the works contract. The department is constantly striving to find newer, smarter ways to develop modern properties, where 30-metre high-bay warehouses and energy audits exemplify innovative initiatives from Logicenters. With regard to energy efficiency, Eva plays an important role in Logicenters’ work to reduce its carbon footprint. Something which she finds customers are appreciating more and more.
“I am finding that there is increasing focus on the environment within the industry, something which I am very pleased about. We often coach our customers on issues regarding reduced energy consumption, not least by conducting energy audits, and we are finding that we are being listened to. It is my ambition to continue to drive this development forwards in order that we can offer even smarter and more energy-efficient logistics properties with as low a carbon footprint as possible. Being able to lead this development in an organisation where both colleagues and management support my ambitions is something of which I am very proud and something that makes Logicenters an attractive workplace and company,” concludes Eva Sterner.
Logicenters is expanding at a greater rate than ever before. With a total of nine logistics facilities under development, the company is strengthening its position in the Nordic market significantly. The total area currently being developed by Logicenters amounts to a total of 227,000 m2, with several LOIs also having been signed.
Logicenters is a leading developer and owner of modern logistics facilities in the Nordic region. In August 2018, the total holding of logistics space amounted to 1.6 million m2. This figure continues to rise and Logicenters currently has nine ongoing development projects totalling 227,000 m2. Of these, six are in Sweden, two in Denmark and one in Finland. In addition, LOIs have been signed for an additional 210,000 m2, including a 110,000 m2 facility for Axfood in Bålsta, Sweden.
“I am incredibly proud of Logicenters’ success. It is thanks to a strong team and a unique operational flexibility that we have been able to grow at the pace we have. This current expansion is enabling us to increase our presence in important logistics hubs and a natural consequence of this is that we need further reinforcement of the team. We are now looking for project developers for several of our development projects,”says Matthias Kettelhoit, Commercial Head at Logicenters.
A sustainable focus
Sustainability is one facet of today’s Logicenters development projects. Energy-efficient solutions and solar panels on roofs are examples of recurring specifications in the construction of new properties. According to Logicenters’ Head of Development, Eva Sterner, the sustainability strategy is an important success factor.
“Reducing our carbon footprint to the greatest possible extent is of the utmost priority to us. Our sustainability strategy integrated in the logistics portfolio enables us to help our customers reach their climate goals, something that we know is appreciated. The great interest in our facilities is a confirmation that we maintain a high standard of development and we will continue to work to meet the functional and sustainable logistics needs of tomorrow,” says Eva Sterner, Head of Development at Logicenters.
Logicenters has expanded its property portfolio in Norway with the acquisition of a newly developed logistics facility in Råde, Norway. The purchase was signed with futures contracts and now the 8,000 m2 facility is ready for the tenant New Wave to move in.
In June 2017, Logicenters signed an agreement with Fauna Eiendom AS for the acquisition of a planned new development of a property in Råde, Norway. The 8,000 m2 logistics facility is now ready for the tenant New Wave to move its operations into it. The development of the facility has resulted in 1,500 m2 of office and exhibition space, as well as 6,500 m2 of warehouse space.
– We are delighted that the new modern facility for New Wave in Norway has become part of our logistics property portfolio. As the largest owner of modern logistics facilities in the Nordic region, we have high growth ambitions in Norway and also completed a deal for 44,000 m2 in Vestby during the year, says Jørgen Bråten Nordby at Logicenters in Norway.
Located around 70 kilometres from Oslo and close to the E6 motorway, the logistics facility has a strategically important position in Råde. The property is located at Torvstikkeren 10.
– We are proud to have delivered a modern logistics facility and head office in Norway for New Wave in association with our contractor Norbygg. New Wave has impressed throughout the process and there is no doubt that the company will perform even better in its new facility. With such an expert and professional developer as Logicenters, we are also convinced that the property will be in the best hands for the future. This will enable us to redistribute resources to other exciting development projects we are working on, including 500,000 m2 in a future logistics area along the E6 in Nedre Romerike, says Rasmus Os at Fauna Eiendom AS.
New Wave Group is listed on the Swedish stock exchange and is primarily active in the development and sale of various textile products aimed at the the corporate market. The company also owns the Craft sports brand.