Industrial real estate fund manager Clarion Partners Europe has acquired a grade-A logistics property in Venlo, the Netherlands, for €47.7m from Patrizia.
The 41,304sqm facility, constructed in 2016, was acquired for a commingled fund and takes Clarion’s total deployment in the Netherlands in 2024 to €222m.
The building is leased to a subsidiary of third-party logistics and supply-chain management business Arvato Group with four years remaining. It has a BREEAM Very Good environmental certification.
It is located in Trade Port Noord industrial park, an established hub for both manufacturing companies and logistic service providers, northwest of Venlo city centre.
Rory Buck, managing director at Clarion Partners Europe, said: “The Netherlands logistics market continues to see strong rental growth, underpinned by healthy consumer spending and associated distribution activities. With a limited development pipeline and very low vacancy rates, the Netherlands will remain one of our key investment markets.”
Florina Capraru, director at Clarion Partners Europe, said: “This was a rare opportunity to acquire a highly reversionary asset, in a hugely undersupplied market, with over 19 million people living within 100km. Venlo is one of Europe’s major pan-European transportation and distribution hubs and, with a vacancy rate close to zero, this investment is an ideal addition to our portfolio.”
To read the latest IPE Real Assets magazine click here.
Related Companies
- Previous
- Next
