WP Carey announces €25m build-to-suit investment in the Netherlands
WP Carey has announced a €25 million ($30 million) build-to-suit commitment with a leading plant-based consumer products company for a state-of-the-art global R&D food research facility.
The facility will be located in the Netherlands on the campus of the world’s top agricultural and food science research institution and will total approximately 6,100 square meters (65,700 square feet). Upon completion in 2022, the facility will be leased for a minimum term of 20 years.
The tenant is the leading global producer of a range of plant-based products and spreads. The company operates in 95 countries and has more than 100 brands.
As the plant-based food sector continues to undergo significant growth globally, this facility will serve as the tenant’s global R&D center and will support the development of new and innovative plant-based products and environmentally friendly packaging. The tenant will invest substantial funds into the facility’s fit-out, un