Prupim has purchased a distribution warehouse in the eastern Dutch city of Enschede from the German open-ended real estate fund manager WestInvest on behalf of the M&G European Property Fund. PRUPIM said it acquired the building off-market for a value of EUR 22 mln. The property provides some 40,000 m[sup]2[/sup] of modern warehouse space fully leased to the outdoor footwear retailer Timberland, which uses the site as its main distribution centre in Europe. Consultant Cushman & Wakefield Investors advised Prupim.
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