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Equity Estate expanded the Propco portfolio by acquiring an industrial building located at the Bankijkerweg 8 in Rijnsburg. The building consists of approximately 8,600 m² of warehouse space and 600 m² of office space on more than 2 hectares of land.
Van der Gugten Verpakkingen leases the building for a period of 10 years, and is a wholesaler in flower packaging materials. Furthermore, they are part of the Pacombi Group BV. Van der Gugten has a market share of approximately 40% and operates in the niche market of transport packaging in the flower industry. Its central location in the Dutch ‘Bollenstreek’ (flower bulb region) and the proximity of the flower auctions in Rijnsburg, Aalsmeer and the Westland, makes that the building is strategically located for its purpose.
After the acquisition of an industrial building in Dordrecht in June 2016, this is the second acquisition of Propco in a half year period. The intention is to further expand the portfolio to a size of around EUR 50 million, with long-term leases on strong locations.
Van Benthem & Keulen and Ten Holter Realty Partners (THRP) acted as the legal and commercial advisor on behalf of Equity Estate, whilst Marktlink fusies & overnames acted as the advisor of the seller during the entire process.
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