JLL advises on 26,520m² logistics center acquisition at Copenhagen Airport
International investment firm AEW on behalf of a mandate backed by a German pension fund has acquired Copenhagen Cargo Center, a specialist Airside Logistics asset at Copenhagen Kastrup Airport. The seller is the pan-European real estate investment and asset manager Palm Capital, which took over the logistics asset in 2018. JLL has acted as buy-side commercial due diligence advisor in collaboration with local Danish firm EDC Erhverv Poul Erik Bech in providing local and pan-European Airport / Airside logistics advisory to support AEW in completing the transaction.
The asset has highly sought-after airside access and is let to DHL, Postnord, Telenor and WFS (Worldwide Flight Services). In addition to the logistics space, the property accommodates office space, and there are also opportunities to create additional value through development, with permission to expand the warehouse capacity by 5,000m² on the southern part of the site.
Airside Logistics in Denmark and EMEA
JLL Sweden and EDC Erhverv Poul Erik Bech provided buyer-side commercial due diligence advisory to AEW in connection with the transaction. Clive Drury MRICS, Director, Valuation Advisory at JLL Sweden says:
“We are grateful for the trust to advise AEW on this fast-paced acquisition project. Our advisory is based on local data and analysis on the Copenhagen logistics market in parallel with a specialist market report on the Airside Logistics sector across Europe. With the expertise of our EMEA sector-focused teams and strong local network, we can challenge ourselves in specialist sectors such as Airside Logistics throughout Europe and provide market leading advisory to our clients.”
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.