Goodman Group (Goodman or Group), the global integrated property group that owns, develops and manages logistics and business space, delivered over 820,000 sqm of new development projects across continental Europe in 2012. The Group’s leasing figures were similarly robust, successfully completing 850,000 sqm of new leasing activity over the same period.
The Group delivered 820,000 sqm of new logistics space across 26 developments in six countries. The figures are significantly higher compared with the 2011 calendar year, during which Goodman delivered total completions of approximately 500,000 sqm.
Philippe Van der Beken, Goodman’s Managing Director Continental Europe said: “Our competitive advantage is having the ability to attract new capital to fund our active development pipeline, which in addition to an impressive level of completed projects, has also enabled the Group to secure the biggest deals in France and Germany over the last 12 months.”
In Belgium, Goodman delivered three projects in 2012. In Puurs, Goodman delivered a modern 18,000 sqm distribution centre for Vandeputte Group. This development together with a warehouse completed for Duvel resulted in approximately 40,000 sqm of developments being completed on the site. Goodman also delivered a 64,462 sqm turnkey facility for Stanley Black & Decker in Tessenderlo.
A quarter of the developments completed in 2012 were pre-leased to e-commerce customers, including two approximately 110,000 sqm logistics centres for Amazon in Germany. This highlights Goodman’s leading position in Europe as a developer of, and investor in, logistics facilities for the e-commerce sector.
On completion, the majority of the facilities were acquired by the Goodman managed fund Goodman European Logistics Fund (GELF), with Goodman continuing to provide all property and asset management services.
Also in 2012, an approximately 110,000 sqm fulfillment centre leased to Amazon in Koblenz was acquired from the Group by Goodman Princeton Holdings (GPH), a co-investment vehicle between Chambers Street Properties and Goodman. GPH’s investment strategy is focused on the acquisition of pre-committed logistics developments sourced by Goodman.
Other deals secured in 2012 include an approximately 90,000 sqm logistics centre for Amazon at Lauwin-Planque, near Lille in France, and pre-commitments for the development of two major logistics centres in Germany. The Group is developing a 78,000 sqm logistics centre for e- commerce retailer Zalando in Monchengladbach, North Rhein-Westphalia and separately, an 82,000 sqm extension to DB Schenker’s existing 63,000 sqm built-to-suit facility in Leipzig.
Goodman successfully completed 850,000 sqm of new leasing activity in 2012. This equates to 23% of the continental European portfolio, with lease renewals for existing customers comprising 748,000 sqm of the overall leasing deals undertaken.
“This strong leasing result is indicative of the high level of customer satisfaction across our high quality portfolio of assets, and the exceptional customer service provided by Goodman’s in- house property services team,” said Van der Beken.
Goodman currently has 4 million sqm in logistics assets under management across continental Europe.
Further, Goodman announced in 2012 its plans to expand into the Nordic region and has entered into a co-operation agreement with Stockholm-based real estate investment and asset management company, Svensk Fastighetsfond AB to pursue development opportunities in key logistics markets in the region.
For further information, please contact Goodman:
Jeroen Gaudissabois, +32 (0)2 235 01 46
About Goodman European Logistics Fund (GELF)
Porter Novellie, +32 (0)495 62 66 77
GELF is a €1.8 billion pan-European fund which manages a portfolio of 93 assets in 11 countries and boasts unparalleled performance metrics as demonstrated by a 98% occupancy rate and, a portfolio weighted average lease expiry (WALE) to first break of five years.
For more information please visit: www.goodman.com