CBRE Global Investors divests mixed-use asset in Netherlands

CBRE Global Investors, on behalf of the CBRE Dutch Retail Fund, has sold the Waagstraatcomplex, a mixed-use complex in the city center of Groningen, Netherlands, to Vastgoed Groningen B.V. The Waagstraatcomplex is located directly next to the city hall and situated at the intersection of the main shopping street (Herestraat) and the central city squares Grote Markt and Vismarkt.

The fully leased complex has a total floor area of approximately 11,000 square meters (118,400 square feet) combining offices, residential and retail/hospitality. The shopping area comprises 14 retail units leased to international, national and local retailers, such as Bookstore van der Velde, the iconic News Café, Rituals and Burger King. The office floors, which are leased to Belsimpel, are located on the upper floors, as are the 24 apartment units.

The divestment of the Waagstraatcomplex is part of the ongoing improvement of the quality of the portfolio. The proceeds from the sale will be r