WDP accelerates growth ambition KDL with €60 million real estate deal

WDP and logistics service provider Kris De Leeneer (KDL) are concluding a combined real estate deal: the development of a new sustainable warehouse of approximately 18,000 m² coupled with the sale-and-lease-back of KDL's existing automated high bay of approximately 25,000 m² in the Lokeren E17 industrial park, in combination with a temporary lease in Zele pending the new construction. This integrated transaction supports the continued growth of KDL, named carrier of the year at the end of March 2025. At the same time, it anchors WDP's presence in this excellently connected industrial park. The total investment amounts to some €60 million. The return expectation perfectly matches the intended objective. WDP and KDL expect to complete this transaction in the fall of 2025 - under the suspensive condition of obtaining a building permit. 

The deal illustrates WDP's cluster approach and ability to provide customized solutions and the crucial role real estate plays today in its client's growth strategy. WDP is creating value here across the full breadth of its operations: through its expertise in acquisition, through development on owned land, and from the existing portfolio through temporary leasing. 

This investment aligns perfectly with WDP's strategy to strengthen our presence in strategic logistics locations, optimize our customers' supply chains and deepen customer loyalty. With this creative real estate puzzle, we can bet on three important fronts. Real estate plays a key role in KDL's growth strategy, so we are delighted that this integrated solution supports their logistics processes as well as future growth. Kristof De Witte - Country Manager WDP BeLux. 

this cooperation, we are taking the next, thoughtful step in the expansion of our logistics model. The combination of automation, sustainability and the strategic location makes us ready to serve our customers even faster and more flexibly. This partnership with WDP confirms our ambition to continue to grow as a reference in the sector. Kris De Leeneer - CEO KDL. 

Integrated real estate transaction: new development, sale-and-leaseback and leasing 

To facilitate the expansion of its operations to support its future growth, KDL was looking for more logistics real estate space, complementary to its existing location. For the past two years, the logistics service provider operated from its fully automated high bay in the Lokeren industrial park along the E17. This location is of strategic importance to KDL: located right in the middle of its customers and excellently connected to the economic hubs of Antwerp, Ghent and Brussels and with direct access to the E17 freeway. WDP can meet KDL's demand with a customized real estate solution. 

WDP will construct a new warehouse for KDL on an undeveloped site owned in the same industrial zone in Lokeren. The new building with a lettable area of approximately 18,000 m² will be realized in accordance with WDP's high, sustainable quality standards and will be BREEAM certified. 

The partnership between WDP and Kris De Leeneer shows how strategic investment and sustainable development go hand in hand. We are delighted that investors and companies are anchoring our city and industrial parks in their long-term strategy. This transaction strengthens Lokeren's economic position and offers new opportunities for growth and innovation in our region. Sarah Poppe, alderman for economics, City of Lokeren. 

The close proximity to the existing high bay ensures optimization and efficiency of KDL's storage and distribution flow and the complementarity of both properties for expansion of its activities. For this, KDL is signing up to a long-term 15-year lease. The investment for this development is about 20 million euros. Pending the realization of this newly built warehouse at the end of 2026, KDL is moving into the available space of WDP in nearby Zele. KDL is renting approximately 4,500 m² there on a temporary basis. 

Also part of this cooperation is the acquisition by WDP of the existing high bay owned by KDL, which will then be further leased by KDL on the basis of a 20-year long-term lease. This eye-catcher with visibility location along the E17 has a leasable area of approximately 25,000 m² and offers space for 46,000 pallet spaces thanks to its clear height (26 m) and automated MOVU pallet storage. The sustainable warehouse is energy-efficiently cooled thanks to its concrete construction and solar panels and is accompanied by modern office spaces. The parking lot is equipped with charging infrastructure for passenger cars and e-trucks. This sale-and-leaseback transaction involves an investment of some 40 million euros. 

WDP Lokeren to over 165,000 sq. ft. of high-end logistics property 

With this combo transaction, WDP anchors its footprint in this strategically located industrial park: the acquisition and development of and for KDL are a nice addition to the Global Distribution Centre for Barry Callebaut, the experience center for Movu Robotics and the distribution center for AMP.