Hines has acquired ABC Westland freehold logistics park, located in close proximity to The Hague, the Netherlands. The asset incorporates both a range of 13 existing buildings and land for potential future development. The experienced incumbent management team will remain in place to continue to provide an excellent service to the diverse range of tenants on the park.
The property encompasses 117,000m² of logistics warehouse and commercial office space. The roofs of the logistics business premises are equipped with 18,285 solar panels, which supply approximately 30% of the current energy consumption in the park. With an established reputation as one of Europe’s largest logistics hub for food and fresh produce, ABC Westland is home to over 50 food companies and suppliers. This includes commercial enterprises, wholesalers, processing companies, logistical service providers and packing companies handling produce such as fruit and vegetables and floriculture.
ABC Westland is located in the middle of the Westland region, an international growing area and agri-food cluster. It is acknowledged for its logistics trade, research and development and the world’s largest greenhouse area. Moreover, the park sits between the Port of Rotterdam and The Hague.
“ABC Westland fits perfectly into our global portfolio and its strategic location close to the Port of Rotterdam has enabled the site to become Europe’s leading food logistics hub, serving markets across the region,” said Lars Huber, CEO of Hines Europe. “The fresh produce and food park have massive growth potential.”
Sherri Schugart, chief executive officer of Hines Global Income Trust, added: “Hines Global Income Trust is excited about expanding our presence in the Dutch warehouse market with this strategic acquisition. ABC Westland represents a vital logistics hub in the heart of the Westland with immediate access to the port of Rotterdam and plays an essential role in the global food distribution supply chain.”
Andy Smith, managing director and head of Hines Netherlands, said: “Hines Netherlands is pleased to add to our logistics portfolio in the Netherlands and will continue to look for exceptional opportunities to broaden our investment depth and breadth in the sector together with our growing team of specialist local professionals.”
