Clarion Partners Europe is investing around €40m to forward purchase a Grade A warehouse in the Netherlands from Next Level, on behalf of one of its funds.
The 32,000sqm logistics facility is located in the Maasoever industrial park in Waspik, in the Waalwijk municipality of the Netherlands.
Next Level initially acquired two brownfield sites at Maasoever industrial park, before combining them into a single 4.5ha greenfield site.
Construction of the property has started and is expected to complete in Q2 2025.
The transaction is Clarion Partners Europe’s second with Next Level this year, following the acquisition of a 39,363sqm build-to-suit warehouse in Helmond.
Since January, Clarion Partners Europe’s committed investment in the Netherlands has grown to €262m, across five assets totalling 206,000sqm.
Rory Buck, managing director at Clarion Partners Europe, said: “Waalwijk is a prime international distribution hub, characterised by historically low vacancy rates and a population of over 10m within a 100km radius.
“The highly sustainable property is forecast to be the only one of its size and specification delivered into the local market in the first half of 2025.”
Max Rooney, vice-president at Clarion Partners Europe, said: “This opportunity to acquire a newly developed, institutional-grade logistics asset, in an undersupplied market with close to zero vacancy, represents a welcomed addition to our growing portfolio in the Netherlands.”
Rene Geujen, director of plan development at Next Level, added: “This is our second acquisition with Clarion Partners Europe, which recognises our expertise in adding value through transforming complex brownfield sites into the logistics assets of tomorrow.”
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