Patrizia Immobilien AG, acting on behalf of Patrizia Logistik-Invest Europa II, has agreed to purchase a state-of-the-art, 57,000m² logistics property in Waalwijk in the south of the Netherlands. The vendor is Magna Tyres Group. Delivery is expected in November 2019. The purchase price was not disclosed.
The brand-new property is built to a BREEAM ‘Excellent’ standard and is located at the Haven 8 business area in the Netherlands’ southern logistics corridor, benefitting from good connectivity with the rest of continental Europe. It is around an hour’s drive from the ports of Rotterdam and Antwerp, over the border in Belgium, and it less than two hour’s drive from the German city of Düsseldorf.
Emile Poort, Head of Transactions Benelux at Patrizia, commented: “This property is another high-quality asset that underlines Patrizia’s continued interest in the pan-European logistics market, particularly the Netherlands, which is characterised by a limited supply of high-quality, modern warehouse space and increasing demand. It is this demand that will fuel favourable contractual terms and rental growth, and that means value growth for our clients.”