PingProperties sells Paasheuvelweg 5 to The Kimberley Group

PingProperties has recently sold the office building on Paasheuvelweg 5 in Amsterdam to The Kimberley Group.

The building, comprising approx. 2,800 m² of office space and 54 parking spaces, is located in the Amstel III area and is leased in its entirety to IKEA Beheer B.V., which has established its national head office there. IKEA was incorporated in 1943. Since then, IKEA Groep has developed into a leading retail chain with 155,000 employees in 43 countries and an annual turnover of more than 31.9 billion euros.

PingProperties has had the building in its portfolio for many years. Given the current market and the renewal effected last year, the right time had come to sell the building.

PingProperties realized this transaction independently. The Kimberley Group was advised by DRS Makelaars.