P3 secures longest Dutch logistics lease of 2012 with UNIVEG Deal at Waddinxveen (NL)

The UNIVEG Group, one of the world's leading suppliers of fresh fruit and vegetables has extended the lease on a 41,140 m² distribution facility in Waddinxveen, The Netherlands, for 15 years, which makes this deal the longest Dutch logistics lease closed in 2012. The facility is managed by pan-European real estate asset manager and developer of warehouse properties PointPark Properties (P3).

Tim Hennes, Head of Asset Management Western Europe for P3 said: "Logistics leases in the Netherlands typically run for periods of three to five years so distributors retain the flexibility to react to changing market conditions, but the Waddinxveen facility is perfectly located for UNIVEG and meets all their specifications and requirements, so they wanted to secure the park for the longterm. The current lease ran to 2016 and UNIVEG renewed it well before they had to – extending it until 2027."

The company uses the Waddinxveen facility to supply retail chains in Europe with greenhouse vegetables sourced in the Netherlands and organic fruit and vegetables and exotic produce imported from all over the world. UNIVEG Group's sales of fresh produce to its customers worldwide totalled €3.3 billion in 2010.

Waddinxveen is close to major motorways and to Westland -- a Dutch region with one of the highest concentrations of greenhouses in the world, and excellent transport links to Europe's largest port in Rotterdam, Amsterdam's Schiphol Airport, and the German market.

Martin de Vries, Managing Director, UNIVEG Trade Benelux said: "UNIVEG's business depends on the fast and reliable distribution of fresh products grown in various locations in Europe and elsewhere, so our logistics facilities have to be as modern and efficient as possible and location is equally important. Waddinxveen is a state-of-the-art logistics park and a strategic transport hub for us." Jones Lang LaSalle advised P3 in the transaction.

Source: Point Park Properties

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