For the expansion of its portfolio, AB European Real Estate Fund has acquired the logistics property “The President”, located close to the airport of Amsterdam. Fully let to the premium fashion brand Scotch & Soda with a WALT of 4.75 years (as of April, 1st 2017), the property strategically complements the existing portfolio of the Fund with a very strong cashflow.
The Fund was advised by Equity Estate, SGS Search and Hofstede, while being legally represented by Ernst & Young Tax Advisory Services Sàrl. The technical property management will be provided by CBRE. On this transaction, the Seller was represented by Cushman & Wakefield.
An eye-catching icon with excellent accessibility
The President, which was designed by the renowned Dam & Partners Architects from Amsterdam, is a distinctive eye-catcher not only providing efficient logistic space, but also a very pleasant office to work in (total leased space of 9’514 sqm). The great deal of daylight allows our tenant Scotch & Soda the efficient use of the floors as a showroom. The logistics space has been constructed with sufficient height and a mezzanine floor, to meet the growing needs of our tenant. Four loading docks are available to serve the European market.
With Schiphol International Airport only 3km away, as well as close proximity to Amsterdam Seaport, Greenport Aalsmeer and Europe´s largest Seaport in Rotterdam, The President is ideally located.
About the tenant
Scotch & Soda was established in 1985 and is located in Hoofddorp since then. Most of the Dutch stores selling from Scotch & Soda´ collections are located within the Randstad Area, which is the Economic Powerhouse of the Netherlands covering the majority of its target group. Hoofddorp is clearly the front row of Schiphol International Airport, providing connections towards all key destinations for the delivery of orders within the limited timeframe Scotch & Soda allows itself.