CBRE Global Investors, on behalf of the CBRE Dutch High Street Club (DHC), has agreed the sale of an 18,000-square-meter (193,750-square-foot) high street retail property in the Netherlands, in a share deal to developer/investor MWPO.
In 2017, CBRE Global Investors acquired the asset in Nijmegen, which was formerly a V&D department store, and within the hold period, the asset has been re-leased and planning secured for a mixed-use redevelopment.
In 2018 and 2019, the department store was split into multiple units, with retail units on the ground floor and the basement. The retail units have been leased to Decathlon and TK Maxx, with the upper floors planned for a mixed-use development. The repositioning of this asset has included the implementation of various sustainability measures, resulting in a 43 percent reduction in energy consumption.
Martijn Vlasveld, portfolio manager of CBRE DHC at CBRE Global Investors, commented, “This transaction shows the st
