Onninen Distribution Warehouse, Oslo, Norway
A 25,000 square metre headquarter office and logistics warehouse. The property is fully let on a lease that includes annual inflation linked increases in a market with low vacancy levels.
- The property is located on Berger Business Park (directly on the highway outside Oslo), which has attracted tenants such as FedEx, DHL, PostNord, DSV, and H&M.
- This prime office and distribution warehouse facility of 25,000 square metre was completed in 2010 and is fully let to Onninen, one of the largest electrical wholesale distributors in the Nordics.
- Onninen invested €5,000,000 in an automated stock picking system for the property and the lease benefits from 8.5 years remaining and annual inflation linked rental increases.
- Norway generates significant revenues in oil and gas and has a liquid property market, measured as percentage of stock sold each year, second in Europe to Sweden.
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