Prologis, the global leader in logistics real estate, announced today the closing of the divestment of the distribution facility Örebro DC 1 to real estate company Nyfosa. The building was recently renovated and upgraded to improve sustainability and functionality. The value was set at 300 million Swedish Krona.
The property was built in 1967, and Prologis acquired it in 2003. Since construction, the facility was occupied fully by the original tenant, who moved out in 2017.
To meet Prologis’ high quality and sustainability standards, the company decided in May 2017 to invest in a substantial upgrade and renovation of the facility. The upgrade was finished in 2018 and almost-fully leased to KGA Logistics and Mitsubishi Electric at the time of the sale.
“Örebro is an important logistics hub, but after several acquisitions in 2019 it became obvious that the building didn’t quite fit our long-term portfolio strategy,” says Gunnar Gillholm, vice president, country manager at Prologis Nordics. “So when Nyfosa showed interest and everything else fell into place, we decided to go through with the divestment.”