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LC divests large logistics property in Norway

Logistic Contractor has signed an agreement with Niam, who is acquiring a logistics property under construction in Norway. The agreed property value amounts to 1,450,000,000 NOK. The transaction is carried out through a combination of forward funding and forward commitment. Niam will take possession of the property upon completion during the summer of 2025.

The property, located in Eidsvoll north of Oslo, has been developed by Logistic Contractor. There is already a fifteen-year lease agreement with Ahlsell, who will establish a new Norwegian central warehouse in the 64,000-square-meter building. Ahlsell and Logistic Contractor have had a close collaboration during the development phase to design a building that is well-suited to Ahlsell’s operations. Significant emphasis has also been placed on long-term sustainability with certification according to Breeam-NOR and a solar panel installation that will produce at least as much electricity as the operation will require annually.

“We are very pleased with the fact that we can offer Niam attractive property acquisitions. This is LC’s second deal with them, as Niam previously acquired a facility we developed for Mathem in Stockholm. In about fifteen months, we will deliver a state-of-the-art logistics facility to both Ahlsell and Niam, and we look forward to a good collaboration during the production period,” says Jonas Jönehall, CEO of Wästbygg Gruppen.

Cushman & Wakefield Norway/Sweden, together with 60 Grader Næringsmegling and Ræder Bing Advokatfirma, have assisted Logistic Contractor in the transaction.