WDP and KDL team up on €60m Belgian logistics deal

Belgian logistics real estate specialist WDP is investing roughly €60 mln in a deal with logistics provider KDL.

The deal will support KDL's growth and strengthening WDP's presence in the Lokeren E17 industrial park. 
The deal includes developing a new, sustainable 18,000 m2 warehouse for KDL and a sale-and-leaseback agreement for KDL's existing 25,000 m2 automated facility in the same park that houses 46,000 pallet spaces.
KDL will also lease a temporary 4,500 m2 space in Zele from WDP while the new warehouse is constructed. 
The new warehouse, with an expected completion in the second half of 2026, comes with a 15-year lease and a €20 mln investment budget. 
The overall deal is expected to close in the second half of 2025, pending building permits. 
This integrated solution allows KDL to optimize its operations and expand its capacity within a strategically important location, connected to the economic hubs of Antwerp, Ghent and Brussels, with direct access to the E17 motorway. 
Kris De Leeneer, CEO KDL, said: "With this collaboration, we are taking the next well-considered step in the development of our logistics model. The combination of automation, sustainability, and a strategic location ensures we are ready to serve our customers even faster and more flexibly. This partnership with WDP confirms our ambition to continue growing as a leading reference in the industry.”
Kristof De Witte, country manager, WDP BeLux, commented: "This investment perfectly aligns with WDP's strategy to strengthen our presence at strategic logistics locations, optimise our clients' supply chains and deepen client retention. This creative real estate puzzle, we are able to focus on three strategic pillars simultaneously. Real estate plays a key role in KDL's growth strategy, so we are delighted that this integrated solution supports their logistics processes and future growth.”