Healthcare products and pharmaceuticals manufacturer Johnson and Johnson Medical has acquired an office complex located near the Airport of Brussels from Ag Real Estate, previously known as Fortis Real Estate. The companies agreed not to disclose the transaction price.

The building located at Leonardo Davincilaan in Diegem, on the northeastern side of Brussels, provides around 10,800 m2 of office space and 300 parking spaces. The purchase by Johnson & Johnson follows its decision to bring together its three different locations in Zaventem, Waterloo, Groot- Bijgaarden into one single building. The company will relocate to the site before this summer.

Knight Frank advised the vendor on the deal.

'This transaction is the biggest in term of size in several years in that area where vacancies are around 20% but shows the market is restoring itself at a slow pace,' the broker said.