The asset is fully leased to Elgiganten Logistics, a longstanding tenant since the building's completion. Serving as Elgiganten's distribution centre, the facility supplies all of the chain's stores, hubs and online consumers in the Nordic region from its highly automated omni-warehouse.

"We are very pleased to have secured this state-of-the-art asset in a prime logistics hub with superior infrastructure. With this transaction, Niam expands its logistics portfolio to 285,000 sqm. We look forward to collaborating with Elgiganten and further developing the property. The deal demonstrates our ability to execute in this market and we continue to seek logistics acquisitions in the Nordics”, states Henrik Gerdin, Fund Manager at Niam.

The seller is a German fund managed by DWS.