Artselaar Business Park back in Belgian hands

Tim Harrup

Having recently acquired Ghent Logistics Campus for its portfolio, CBRE Investment Management has again been active in the logistics and semi-industrial domain. The company has sold Aartselaar Business Park in Antwerp to the real estate department of the family office investor Baltisse.

The properties involved extend to 36,288m² are made up of a light industrial, complex of warehouse and offices contained within two separate buildings. The complex was first constructed in 1975 and was the subject of a renovation between 2007 and 2009. The buildings themselves offer 18 separate units with each unit consisting of an industrial area with loading docks and an adjoining office section.

Aartselaar Business Park is located in the Antwerp South Region and is thus close to the A12 motorway leading directly to Brussels. The E 19 – Amsterdam-Brussels-Paris is also a short drive away and is accessed via the Antwerp Ring road to the north and the Brussels Ring to the south. This location just to the south-west of Antwerp centre, thus forms part of the ‘golden triangle’ comprising Antwerp-Ghent-Brussels.

Arthur De Four, Senior Asset Manager, CBRE Investment Management, comments “Following the successful execution of the business plan, recent leasing successes and the high investor demand for industrial assets, the timing was right to sell this asset. The asset has performed well for our investors and as the fund and company’s strategy and strategic requirements for logistics assets have evolved over time, we are pleased with the successful conclusion of this sale.

For his part, Alex De Witte, CEO of Baltisse Real Estate and a former director of Allfin prior to the merger with Immobel, explains: “The acquisition of Aartselaar Business Park affirms our wish to strengthen and extend our investment portfolio with well-located industrial buildings. The location, mix of strong tenants and size and shape of the land (7ha) respond to the criteria we consider essential to be successfully active in the sector on a short or long term perspective.