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

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

, Reuters - 1:08 PM ET 3/26/2025 mergers-and-acquisitions

March 26 (Reuters) - Montea NV:

* 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: (Gdansk Newsroom)

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