Patrizia AG has acquired a two-asset logistics scheme in Veghel, The Netherlands, on behalf of its institutional clients for around €65m from Next Level Development; a renowned logistics developer in the Netherlands. The first unit, measuring 25,929m², which was completed in April 2020, is let on a ten-year lease to Friesland Campina, the largest dairy cooperative in the world. The second unit of 28,211m² is scheduled to be completed by early 2021. The building is equipped with 52 loading docks and four level access doors.
The asset is located in the Food Park Veghel, a logistics park, 20 kilometres north of Eindhoven, with a specific focus on agriculturally produced food and related sectors. The location benefits from excellent transport links due to its close proximity to the A50 and N79 motorways and the inland river barge terminal.
Alexander van Gastel of the Patrizia transactions team in The Netherlands, commented: “This is an exciting, brand new asset that meets the growing demand for high-quality logistics space in the region. Logistics has recently proven to be one of the most resilient real estate sectors. Covid-19 has accelerated existing e-commerce trends and so we are confident this asset will deliver long term secure income to our investors.”
