SICORE Real Assets has reported a significant lease extension. De Jong Verpakking B.V. has prematurely and long-term prolonged the existing lease agreement for the logistics property at Westernesse 6-10 in Den Hoorn, near The Hague. The original contract with the single tenant was scheduled to expire in spring 2027. The newly concluded extension significantly exceeds the locally typical duration of three years and extends for almost five additional years.
Martina Averbeck, spokesperson for the management of SICORE Real Assets, commented on the transaction. According to Averbeck, the company's goal is always to unite the interests of all stakeholders. Such strategic contract extensions provide planning certainty for leasing partners, while investors benefit from long-term secured cash flows. She emphasised that this contract conclusion not only underlines the attractiveness of the location and the spaces but also highlights the importance of close and personal tenant support by the company's in-house asset management team.
The micro-location of the property in Den Hoorn is considered extremely attractive for logistics users. This is primarily due to its direct connection to the A4 motorway, which links the central conurbations of Amsterdam and Rotterdam. Thus, the property is positioned in one of Europe's most sought-after logistics markets and boasts advantageous transport links. The region is characterised by high demand for logistics and distribution spaces, which further rewards owners for securing long-term tenancies.
This renewed success in Den Hoorn is part of a series of leasing activities in the region. Already in February 2024, SICORE Real Assets recorded another successful deal. At that time, a contract with the freight forwarder Midlog B.V. for approximately 3,500 m² of logistics space in a directly adjacent location was announced. These consecutive deals underscore the competitiveness of the locations in SICORE Real Assets' portfolio, as well as the efficiency of their asset management in retaining major tenants.
- —Area of prolongation: 21,000 m² logistics space
- —Tenant: De Jong Verpakking B.V. (single tenant)
- —Location: Westernesse 6-10, Den Hoorn, near The Hague
- —Original lease expiry: Spring 2027
