Montea : continues growth at 3 airports by ca. 27,000 m²

Given the rising importance of air freight and efficient real estate solutions, the sector is showing increasing interest for the know-how that Montea has acquired in airport-related logistics real estate. This resulted in 3 new projects: Schiphol Logistics Park at Schiphol (NL), Flexport City at Liège (BE) and Roissy Charles de Gaulle (FR).

- Schiphol Airport - Acquisition of land to develop a building of ca. 5,400 m² at Schiphol Logistics Park (NL)

Montea has acquired a plot of land of ca. 15,000 m² at activity park Schiphol Logistics Park, uniquely located directly on the A4 and N201 motorways and next to the A5 and A9. A new distribution centre is being constructed here that will comprise ca. 4,500 m² of warehouses and two office units totalling ca. 900 m2. The project will be delivered by April 2018.

This project will be built by the construction company Aan de Stegge Twello. The development was initiated by Durfort Vastgoed, with advice from Industrial Real Estate Partners.

In the meantime, an initial lease has been signed with Thomsen Select, a company specialised in air cargo groupage and transport. This company will rent half of the building for a fixed period of 10 years. The other 50% and the strategically located separate truck parking of ca. 3,000 m² will be offered on the rental market.

This transaction represents a total investment value of €7.12 million (in line with the investment value determined by the real estate expert) and will generate a net initial yield of about 7.6%.

Arnoud van der Wijk, Project Manager of SADC: 'We are delighted that Montea sees Schiphol Logistics Park as an important logistics hotspot. This confirms the future value of our premium logistics industrial estate at one of the most strategic locations of Schiphol.'

- Liege Airport - Launch of new development of 20,000 m² at Flexport City (BE)

Liege Airport has drawn up an ambitious masterplan for the development of the northern zone at the airport. In that respect, Montea has concluded a building lease contract with the landowner Sowaer, for the development of a plot of land of more than 51,000 m,² situated at the entrance of Flexport City, right next to the new logistics processing buildings.

Montea will ultimately develop a total of ca. 20,000 m² of warehouse units and related offices on this site and in so doing provide concrete support for the further growth of the airport. The total investment for phases 1, 2 and 3 will amount to € 15 million.

The construction of the first and second phase, ca. 12,200 m², will start in the coming days, as a long-term lease has already been signed with Malysse-Sterima. Montea will actually construct a hypermodern distribution centre of 4,700 m² storage space with 500 m² of offices for Malysse-Sterima. Medical kits will be sterilized in the building and will be prepared for dispatching to European hospitals. This means a new strategic 'medical care' specialist for the airport.

The lease with Malysse-Sterima is for a fixed period of 20 years and will generate an initial yield of 6.35% as of the end of 2018.

The company will invest ca. € 4 million itself in various facilities for the packaging of the goods.

The remaining 7,000 m² of phase 2 can be delivered within a year of the signing of the lease. Talks with candidate tenants are in full swing.

Luc Partoune, CEO of Liege Airport explains: 'This first development at the new Flexport City zone is a significant step towards the further development of our round-the-clock cargo airport. In addition to our own recently announced investments, this brings the total warehousing area to be developed in the short term to 35,000m².'

Luc Vuylsteke, CEO of SOWAER, which owns the land, confirms: 'The development of our plots of land has accelerated the current market dynamics in air cargo, at Liege Airport in particular. More logistics companies can now consolidate and/or organize order fulfilment, which is an enormous boost for us to continue to develop new plots of land in the near future.'

Jo De Wolf, CEO of Montea: 'Our experience of long standing in airport real estate enables us to anticipate the needs of contemporary freight forwarding and logistics companies, and we are committed to the sustainable establishment of logistics suppliers at the airport. Montea moreover has the required financial resources to be able to carry out the aforementioned operation rapidly. This first phase is a step towards the development of a fully integrated logistics park at a strategic location.'

- Roissy Charles de Gaulle Airport - Acquisition of building of ca 3,000 m² at Le Mesnil-Amelot (FR)

Montea has acquired a building in Mesnil Amelot, with unique location adjacent at Roissy Charles de Gaulle. The 3,002 m² distribution center is divided into 2 units and is rented to Facilit'Air (1,996 m²) en Select Service Partners (1,006 m²). The total investment value amounts to € 3,29 million with an initial return of 6.76%. Montea is already owner since 2008 of the adjacent buildings and sees this investment as a complement to a previous investment. With this transaction, Montea has a portfolio of approximately 17,000 m² at this airport location.

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