Global pharmaceutical player sets up new Dutch logistics hub at P3's Amsterdam Westpoint (NL)

A global pharmaceutical manufacturer has taken up a lease for 16,541 m², over half the available space, at the Westpoint logistics park in Amsterdam from pan-European warehouse asset manager and developer PointPark Properties (P3) to develop a new logistics hub for its business in the Netherlands.

The lease was secured by P3 just three months after the space was vacated by its last tenant.

Tim Hennes, the Head of Asset Management Western Europe of P3 said: "Despite the current economic uncertainties, it's a mark of the excellent potential and location of the Westpoint facility that a company of such caliber could react so quickly and decide to establish operations there as soon as space became available."

The Westpoint logistics park is owned by the Crescent Euro Industrial II Fund, for which P3 acts as asset manager. The facility is located in Amsterdam's Westpoort harbor area, close to Schiphol Airport and has excellent road, rail and waterway connections to the rest of the Netherlands and beyond. The site has a total area of 48,000 m² of which 16,500 m² now remains to be let.

Jones Lang LaSalle and Cushman & Wakefield acted as agents for P3 in the transaction.

Source: Bellier Financial

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