Patrizia AG has invested in the €230m turnkey acquisition of a 233,000m² distribution centre in the container hub of Rotterdam. The vendor is the Dutch logistics developer DHG. The Smartlog Maasvlakte distribution centre is a mammoth logistics complex under construction on a 30-hectare site at Distripark Maasvlakte West on Rotterdam’s most recent land reclamation area and the biggest ever to be developed in the Dutch market. One of the key features of the property is its extensive solar panel roof which includes 46,000 solar panels spanning 210,000m² across 10 buildings, generating sufficient energy to power almost 7,000 homes. The asset also contains the best-in-class technical installations and is fully reliant on alternative energy sources to gas.
Alexander van Gastel, Patrizia’s Director for Transactions Netherlands, said: “The Netherlands is one of the most attractive logistics real estate investment markets in Europe and this acquisition consolidates our presence in Rotterdam, one of the ‘Top 10’ largest container seaports in the world. The deal follows on from our first transaction with DHG in 2019 when we acquired a portfolio of distribution centres in three locations in and around Rotterdam. The city’s port area is a leading European logistics hotspot and competition among occupiers for warehouse space in prime locations such as the Maasvlakte is intense, with little high-quality product available due to the rapid take-up of space by domestic and international occupiers.”
The state-of-the-art logistics hub at the western tip of Rotterdam port is 80% pre-let and will comprise 10 warehouse units ranging in size from ca.17,800 to 22,000m² plus mezzanine space (circa 1,500 to 2,000m²), outside storing terrain and ancillary offices. Tenants include well-known names in the Dutch market including Odin and Zwaluw Logistics. Each unit will be finished to a high specification offering exceptionally smooth concrete floors with a floor load of 6,000 kg/m², electrically operated overhead doors on each dock, battery-charging points, LED lighting and floor heating generated by a climate control heat pump. The development is due to be completed in June 2022.
Emile Poort, Patrizia’s Country Manager for the Netherlands and Head of Transactions Benelux, said: “The logistics sector has proven to be a safe haven during the Covid-19 pandemic and as the economic recovery continues, we are seeing further growth in e-commerce and increasing demand from logistics occupiers, especially for assets that have strong sustainability credentials.”
