Valor Real Estate Partners (Valor) has acquired a 12,632m2 urban logistics property in Waddinxveen, near Rotterdam, from Wayland Real Estate (Wayland).
The single-tenant property, which was developed by Wayland in 2021, is leased to CEVA Logistics with 13.5 years remaining. The BREEAM-NL Very Good certified property is fully electric and features LED lighting, an ESFR sprinkler system, underfloor heating and PV panels, whilst also benefitting from low site density and parking for 155 cars.
Waddinxveen is an established logistics market in the western Netherlands, near central Rotterdam, accessible via the A20 (20-minute drive time), and The Hague, accessible via the A12 (21-minute drive time).
Matthew Ganas, Senior Vice President of investments, commented: “Leveraging our increasingly established local market expertise and transaction execution certainty enabled us to acquire, off-market, a Grade-A property with a visible, long-term income profile, at discounted pricing. Our deployment ambitions in the Netherlands reflect the strength of the investment case for last-mile logistics, which is as compelling as anywhere in Europe, underpinned by permanent demographic and technological structural trends. Furthermore, the sector’s highly granular nature and high barriers to entry provide a compelling first-mover opportunity as we look to replicate the scale we have achieved in the neighbouring markets of France and Germany.”
Valor was advised by TLF, LOYENS & LOEFF, Drees & Sommer
Image provided by FTI Consulting.
Europe Real Estate — an overview of real estate developments in European countries.
