Project “Zalando”: largest single-tenant logistics property

Work highlight

31-05-2022

Loyens & Loeff advised the joint venture ULP Bleiswijk A B.V. with regard to the development of the largest e-fulfilment center of Zalando in Europe (at that time). ULP Bleiswijk A B.V. is a joint venture between USAA Realco – a US based investment manager & project developer – and Somerset Capital Partners, one of the largest developers in the Netherlands in large-scale logistics real estate projects.

The assignment

A team of Loyens & Loeff assisted in:

the establishment of the joint venture
the acquisition of the Royal FloraHolland site
the development agreement and lease agreement with Zalando
the construction agreement with the contractor
the subsequent sale thereof to Warburg-HIH Invest Real Estate, acting for Korean investors led by Midas International Asset Management and NH Investment & Securities

The result

Image source: HIH Invest Real Estate

Image source: HIH Invest Real Estate

Zalando is the largest single-tenant logistics property in the Netherlands. The project is built on 250,000 square metres and has about 1,200 parking spots. It has a gross lettable area of 140,000 square metres and includes around 12,000 square meters of office space.

Find out more

Interested to find out more about this project? Please contact one of our Loyens & Loeff colleagues, mentioned in the ‘Contact us’-section below.

Thanks to our uniquely integrated legal and tax practice, our Project Development & Construction Team provides world class comprehensive support on topics such as contracting, ownership structurering, planning and tax. No matter the project size or complexity: we team up daily with project developers, investors and contractors to build stronger portfolios towards success. After all, effective & efficient management of tax and legal matters is vital during every step of your project. Interested to find out about our other Real Estate work highlights?