BRIEF-Montea And Weerts Group To Develop Distribution Centre For Skechers In Liège

Reuters

03-27

BRIEF-Montea And Weerts Group To Develop Distribution Centre For Skechers In Liège

March 26 (Reuters) - Montea NV MONTE.BR:

MONTEA AND WEERTS GROUP PARTNER TO DEVELOP BELGIUM'S LARGEST SINGLE-TENANT FACILITY
WILL ACQUIRE A 40% STAKE IN THE PROJECT COMPANY
MAXIMUM INVESTMENT OF APPROXIMATELY €140 MILLION
JOINT VENTURE HAS ENTERED INTO A 50-YEAR GROUND LEASE AGREEMENT WITH LIÈGE AIRPORT, WITH AN OPTION TO EXTEND FOR AN ADDITIONAL 49 YEARS
20-YEAR TRIPLE-NET LEASE HAS ALSO BEEN SIGNED WITH SKECHERS
MAJORITY OF LEASE AGREEMENTS EXPECTED TO START IN LATE 2027, REMAINING AROUND 30% EXPECTED BEFORE 2028 END
JOINT VENTURE TO DEVELOP THE NEW EUROPEAN DISTRIBUTION CENTRE FOR SKECHERS IN LIÈGE

Source text: https://tinyurl.com/vnd82saf

Further company coverage: MONTE.BR

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))

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