Lund, September 14, 2011
Northern Logistic Property has renegotiated a lease contract with Menigo Foodservice Ltd on 9,680 m² of warehouse space for refrigeration, freezing and colonial stocks at the property Sköns Prästbord 2:4 in Sundsvall. The lease contract comes into effect 1 January 2012 and expires 31 December 2021. The annual rent is approximately SEK 7.0 millon. The agreement replaces the current lease contract set to expire in September 2012 covering 15,800 sq ft with an annual rent of 7.2 MSEK
"We are pleased to have signed a new contract with Menigo and that they remain in our property. Menigo's new floor space will, after modernization, be concentrated within the property which simplifies the rental of the remaining space to another tenant," says Peter Strand, CEO of Northern Logistic Property, in a statement.
The parties have also agreed that Menigo will withdraw from its premises in Årsta before 1 January 2012. Most of these areas are currently leased to second hand tenants whom will now be offered leases.
For further information please contact:
Peter Strand, CEO: +46 705 88 1661, e-mail: peter.strand@nlpfastigheter.se
About Northern Logistic Property ASA
Northern Logistic Property ASA (NLP) is a leading pure-play logistic property company based in the Nordic region. The portfolio consists of 20 advanced logistic properties located in strategic locations relative to major logistics flows, with a total lettable area of 711 600 square meters. It is the only listed company of its sort in the Nordic countries.
NLP delivers stable and increasing revenue and cash flow from rental income, driven by an attractive lease structure with solid tenants.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)