Property investor DWS and Sweden’s Coop Logistik, the grocery retailer’s logistics arm, are to develop a €146 million logistics facility at Eskilstuna Logistics Park, Sweden in a forward funding deal.
DWS’s institutional open ended real estate fund Europe II is acquiring the asset, its ninth to date, from Coop Logistik which will become the sole tenant of the built-to-suit property which is expected to be complete in the fourth quarter of 2022.
The development, which is an hour away from Stockholm, will create a fully automated, ultra-high-bay distribution centre with 110,000 sq m of space. It will have large floor to ceiling heights, cold and dry storage facilities and 99 docks, and will be served by road and rail access.
“Eskilstuna has emerged as an upcoming last-hour logistics submarket thanks to its favourable geographical position and accessibility,” said Matthias Naumann, CIO European Real Estate at DWS.