PingProperties buys the Mariëndaal Center of Excellence in Arnhems Buiten
14-10-2010
PingProperties has reached agreement with BGB Ontwikkeling C.V. concerning the purchase of the Mariëndaal Center of Excellence (MCE) office development for the PingProperties Corporate Office fund I.
In order to guarantee the quality of the building in the long term, the purchase agreement includes a Service Level Agreement. This investment brings the total capital invested by the PingProperties Corporate Office fund I to over 250 million euro.
The new construction project in the Mariëndaal subarea of the Arnhems Buiten business park has been fully let on a 15-year lease to TenneT and will serve as its head office.
BGB Ontwikkeling C.V. is a joint venture between BAM, Giesbers and TCN. BGB will be responsible for the development of the new construction in the business park. Being one of the first developments, the aim of the MCE development is to transform Arnhems Buiten into a modern, mixed business park with a green image. The emphasis is on the development of Arnhems Buiten into one of the main Energy and Environmental Technology clusters in the Netherlands.
The attractive freehold office building at Utrechtseweg 310 in Arnhem has a lettable floor area of approx. 22,000 sqm, 575 parking spaces and a total plot area of approx. 33,500 sqm. The annual rental income is approx. 5 million euro. Occupation of the building is expected in mid-2013.
The new construction project qualifies as a sustainable building for a number of reasons. For a start, the building mainly consists of natural materials and is provided with sustainable facilities such as a thermal energy storage system (TES), an energy-efficient lighting concept and CO2 controlled ventilation. In addition, the building will replace the currently present outdated buildings. These buildings, consisting of approx. 19,000 sqm of office and business space, no longer meet current standards and must therefore be demolished and replaced by a new development. The total building footprint in the plan area will be reduced and the green areas expanded.
TenneT’s responsibility includes the management of the national transmission grid and the maintenance of the necessary energy balance in the electricity grids, not only in the Netherlands but also for a significant part in Germany. The Dutch State (the Ministry of Finance) owns 100% of the shares in TenneT.
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