Logistea acquires property in Timrå and signs a 15-year lease

Logistea AB (publ) has today acquired a property in Timrå for the construction of a warehouse and logistics property of 4,500 square meters and has at the same time signed a 15-year lease with Nordic Netstores.

Logistea is expanding its property portfolio and has today acquired and taken over the property Vivsta 13:92 on 14,500 square meters in Timrå with planned new construction of a building for warehouse and logistics of approximately 4,500 square meters. At the same time, a lease have been signed with Nordic Netstores, which operates the sites Jakt.se, Hund.se and Fiske.se. The new building, with planned start of construction in the second quarter of 2022 and occupancy in the second quarter of 2023, will be certified according to BREEAM in-use very good or excellent.

The building will have a lettable area of approximately 4,500 square meters, where Nordic Netstores will be the only tenant with a triple net agreement with a contract period of 15 years. Annual rental income amounts to approximately SEK 4.5 million and estimated investment to approximately SEK 45.0 million, of which the land acquisition amounts to SEK 3.6 million. The acquisition and construction of the new building is planned to be financed with bank loans and cash payments.

-We are growing further by acquiring and constructing a property for a financially stable tenant on a long-term lease in an attractive area, says Anders Nordvall, vice president and transaction manager at Logistea.

In two years, Logistea's property portfolio has grown from SEK 189 million in property value to approximately SEK 2,900 million. The company's growth strategy is to build a property portfolio with strong cash flows in combination with long average remaining contract period in well-located and growing logistics hubs in Sweden. Following the above acquisitions, the company owns 47 properties in Sweden with a lettable area of approximately 400,000 square meters, as well as a building rights portfolio of approximately 255,000 square meters.