Cording secures office tenant for the Delphi office building in Amsterdam

26 June 2018

Cording Real Estate Group, the Northern European real estate investment and asset management firm, on behalf of the Benelux Commercial Real Estate Fund, has let 2,060 sq m of office space at the Delphi office building at 135-139 Wibautstraat, in Amsterdam to ERIKS N.V.

The international industrial service provider has taken the 3rd and 4th floor of the five-storey property, on a long-term lease. Built in 1964 and fully refurbished in 1994, the property has a lettable area of around 7,560 sq m and is now fully let. Other tenants at the property, located close to the Amstel railway station, include Vodafone, Scalehub, Colourful Rebel and Van der Hoeden Mulder legal practice.

René de Heus, Head of Investment Benelux at Cording, said: "Over the next few years the neighbourhood around the railway station will see major investment in the area including the construction of a new hotel, numerous apartments, retail accommodation, leisure facilities and offices. This is already having an impact on the market, making it a popular destination for businesses looking to acquire top-quality space in a dynamic and lively part of the city."

"This transaction with ERIKS N.V. reflects the popularity of the area and, from an investment point of view, underlines the potential for value growth that we recognised before we acquired the property in 2017."

Van Dijk & Ten Cate Vastgoedadviseurs acted as broker for Cording, and DRS Makelaars acted as a broker for the tenant during the lease negotiations.

Launched in December 2016, the Benelux Commercial Real Estate Fund invests in office and retail property in economically strong cities within the Netherlands, Belgium and Luxembourg. The fund has a gross target volume of €400 million, including €250 million of equity.