Dura and MAB sell Bigshops Parkboulevard to Deka Immobilien
On Tuesday 20 December 2011, Dutch developers Dura Vermeer Vastgoed and MAB Development Nederland sold the Bigshops Parkboulevard project in Rotterdam, The Netherlands, to German investor DEKA Immobilien.
The transaction comprises 25,000 m² of shops and hospitality businesses and a car park with 750 parking spaces. The parties have agreed not to make any statement regarding the purchase price.
Bigshops Parkboulevard
Bigshops Parkboulevard is a retail park with ‘a kilometre of retail fun’ on Vierhavensstraat in Rotterdam-West, geared towards Rotterdam and the surrounding area. Well before the opening the retail spaces (25,000 m2) was already leased, well-known Dutch retail chains including Albert Heijn, Etos, Gall & Gall, Woonexpress, Slaapgenoten, Toys XL, Blokker Tuin, Bedden Reus, Kwantum, Jysk, Xenos, Bruynzeel Keukens, Keuken Kampioen, Pets Place, Action, Piet Kerkhof, Concord Matrassen & Boxsprings, Beter Bed and Brugman Keukens.
On 19th December the developers announced the leasing of the gastronomy unit in the Park on the roof of the shops.
Bigshops Parkboulevard is a development of VOF Vierhavens, a joint venture of Dura Vermeer and MAB Development. The construction of Bigshops Parkboulevard was carried out by Dura Vermeer Bouw. The design was made by the architectural firm Butzelaar van Son Architecten.
Parkboulevard
Bigshops Parkboulevard is the first stage of the redevelopment of the Vierhavensgebied and marks the transformation of the former marshalling yard in Delfshaven to a new urban area in which Rotterdammers and their guests can work, shop and relax in high-quality, attractive surroundings. On the roof of Bigshops Parkboulevard, the Municipality of Rotterdam is developing a unique, 20-acre park, called Dakpark Rotterdam. Construction of the park began in summer 2011 and completion is expected in early 2013.
Advice
VOF Vierhavens was advised by CBRE and Loyens & Loeff with regard to this transaction. Cushman & Wakefield and Baker & McKenzie advised DEKA Immobilien regarding the realisation of the transaction.