Barings has agreed a pre-let on 23,000 sq m (circa 247,000 sq ft) of warehouse space with Mitsubishi Electric Europe in Örebro, Sweden.
Barings acquired the Örebro Ånsta 20:272 plot in 2022 and it will house Mitsubishi Electric’s Nordic central warehouse. Logistic Contractor will commence construction on the warehouse this month with completion expected by December this year.
Kristina Johnson, head of Nordics real estate asset Management at Barings, said: “Mitsubishi Electric’s decision to make our Ånsta asset its central warehouse for its Nordics operations is a ringing endorsement of the high sustainability standards to which we will be developing this building. The latest substantial letting in a long line of recent deals across our Nordics logistics assets, it’s reflective of the strength of this sector in this market and why we as a firm are continuing to explore logistics investment opportunities in the Nordics and across Europe.”
Anders Moström, who is responsible for Mitsubishi Electric’s real estate sites in Sweden, added: “We are very pleased with this establishment in an excellent logistics location. The new warehouse is an important part of our expansion in both Sweden as well as the Baltics. Through this establishment we’ll achieve new heights in terms of capacity, efficiency and sustainability.”
Rikard Lindkvist, head of industrial and logistics at Savills Sweden, said: “Many parties have worked hard in order to achieve this letting, and we are very pleased with the results. I would like to extend a big thank you to Mitsubishi Electric, Logistic Contractor and of course Barings for a very good collaboration”
Savills represented Barings on the letting to Mitsubishi Electric. Broadgate acts as project manager on the development and initiated the letting to Mitsubishi Electric.
