The logistics centre, which comprises approximately 43,000 square metres, is fully let to the leading Norwegian sports retailer XXL with over ten years remaining lease period.

XXL has two logistics centres in the Nordics, one in Örebro (inside the EU) and one at Gardermoen, Norway (outside the EU). The logistics centre in Örebro, which is the largest site among the two, serves Sweden, Finland, Denmark and Austria. 

"We are pleased to have completed a good transaction for our investors and are confident that Aberdeen Standard Investments will continue to support XXL’s growth within e-commerce," says Sven I Hegstad, CEO of Pilängen.

Aberdeen Standard Investments has acquired all shares in Pilängen, which through its subsidiary is the sole owner of the property.

Pilängen was represented by Pangea Property Partners as sell-side adviser and MAQS acted legal adviser. Aberdeen Standard Life was advised by NCAP as buy side adviser and Linklaters acted as legal adviser.