Closed-end real estate fund Warehouses De Pauw (WDP) said it is purchasing a 50,000 m[sup]2[/sup] site in Venlo, a logistics hotspot in the Netherlands. The company will be redeveloping the site, which is currently home to cable producer Belden's EMEA head office. Belden is to rearrange its activities and will reduce the area it uses from 130,000 m[sup]2[/sup] to 80,000 m2, while the remaining 50,000 m[sup]2[/sup] will go to WDP. WDP plans to build a 28,000 m[sup]2[/sup] logistics centre on the site by 2008. The overall project will cost EUR 19 mln.
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