CBRE Global Investors, on behalf of one its separate account clients, has completed the acquisition of a logistics development in Venlo, the Netherlands for €28.4 million. The asset has been acquired from developer Built to Build Projectontwikkeling, and is located on business park Siberia.
The 42,000 m² logistics development is currently under construction and delivery is expected to take place in early 2015. The asset is 55% let to a well-known logistics provider Seacon and discussions are on-going with other logistics providers regarding the remaining space.
Jeroen de Grunt, Portfolio Manager Separate Accounts Continental Europe, CBRE Global Investors, said: “Our client is actively acquiring high-quality assets in the main European logistics hotspots, and this acquisition in Venlo fits very well with that strategy."
“We have acquired four logistics assets in the last six months in France, Germany and Belgium totaling €71 million. This acquisition is the first in a range of expected acquisitions in the Dutch, French, German and Czech markets.
“We expect to execute supplementary logistic acquisitions in the second half of 2014 and the first half of 2015, in order to further enlarge our client’s logistics portfolio.”
Dekkers Real Estate Advisory, CBRE and Loyens & Loeff acted on behalf of CBRE Global Investors.