AkzoNobel and PingProperties have come to an agreement regarding large-scale complex
Regarding the new fund ‘PingProperties Corporate Office fund III’ PingProperties recently has come to an unconditional agreement with AkzoNobel regarding the purchase of the AkzoNobel office in Arnhem, where, among others AkzoNobel Netherlands and its global shared service operations are located. The offices will be leased back by AkzoNobel for a long term. The purchase also includes the European headquarters and test factory/research facility of Teijin Aramid. These buildings are also leased for a long term.
The PingProperties Corporate Office fund III is characterized by a healthy return and has a low risk profile because the properties are rented to two outstanding debtors for a long term: AkzoNobel and Teijin Aramid. The fund consists of a select number of participants. One of the participants is PingInvestors. PingInvestors, which also conducts the management of PingProperties, is a regular co-investor in a new PingProperties fund. As a result the funds are developed and managed in an extremely critical and creative manner.
The complex is located in the center of Arnhem and has over a century of history with AkzoNobel, formerly known as Eerste Nederlandse Kunstzijdefabriek Arnhem. The area is characterized by a refined appearance because of the presence of historical office villas at the Velperweg. The complex consists of four main objects and a potential redevelopment object and comprises a total of 6 acres of land and 70,000 sq.m. lettable floor area.
AkzoNobel is one of the world’s leading industrial companies. Headquartered in Amsterdam the company manufactures and distributes a wide range of paints, coatings and specialized chemicals – pro forma 2010 revenue totaled approximately 15 billion euro. AkzoNobel is the largest paint and coatings company in the world. As a major manufacturer of specialized chemicals they provide industries worldwide with quality ingredients for products which are essential to human existence. The company thinks about the future, but acts in the present. AkzoNobel is working passionate at introducing new ideas and developing sustainable solutions for its customers. Therefore, its 55,000 employees – active in more than 80 countries – are committed to excellence and providing ‘Tomorrow’s Answers Today’.
Teijin Aramid is part of the Teijin Group, a global, technology-driven group, with a listing on the stock exchanges of Tokyo and Osaka. The Teijin Group produces synthetic fibers, films and plastics, pharmaceuticals, healthcare products, information technology, trade and retail. The group employs approximately 19,000 people worldwide in approximately 160 subsidiaries.
Since the purchase of Teijin Aramid by the Teijin Group in 2000, major structural investments were made in this company. Production has expanded four times in six years, resulting in an increase of more than 100% compared to the 2000 level. Including the acquisition in 2000, Teijin has made a total investment of 1 billion euro in Teijin Aramid. This makes Teijin a substantial investor in the Dutch economy.
RVB renews lease and expands in the Cascade complex in Groningen
PingProperties has concluded a lease with the Central Government Real Estate Agency (Rijksvastgoedbedrijf – RVB) for approx. 13,500 m² in the Cascade complex in Groningen. Besides the complex’s central location near the station and its architectural and structural quality, the sustainability improvements are a major reason for the RVB to commit itself to the complex for the longer term. The renewed lease is for approx. 8,600 m2 of office space and 70 parking spaces at Cascadeplein 8-10, with the addition of approx. 4,870 m2 of office space and 69 parking spaces at Cascadeplein 1-3. This means that the Cascade complex is now fully let.
PingProperties concludes new lease with food retailer Eat Kip for Passage Schiedam shopping centre
PingProperties recently concluded a 5-year lease with food retailer Eat Kip for approx. 200 m² GFA in Passage Schiedam shopping centre. Eat Kip’s business will be at a prominent location in the unit directly next to the entrance from Broersvest.
PingProperties concludes agreement with Schiphol Commercial for the expansion of ibis Styles Amsterdam Airport hotel
PingProperties is concluding an agreement with Schiphol Commercial for an allocation under a ground lease to expand its ibis Styles Amsterdam Airport (ISAA) hotel at Piet Guilonardweg 3 in Schiphol Oost. It concerns a ground lease for approx. 4,000 m2 LFA which will enable the hotel to add around 127 extra guest rooms, bringing the total to 270 rooms once the extension has been completed. Planning permission has been submitted to the Municipality of Haarlemmermeer for its assessment. PingProperties expects to complete the hotel extension in mid-2025.