Nuveen Real Estate has added a distribution centre in the Netherlands to its European logistics platform.

The manager has bought the newly developed 25,000sqm industrial asset from VolkerWessels Logistics Development for an undisclosed amount.

Nuveen said the property will be used by retailer Welkoop as its new headquarters building.

This latest purchase takes Nuveen’s logistics assets under management in the Netherlands to €500m, the manager said.

James Ellis, senior investment manager at Nuveen Real Estate, said: “The asset offers flexible specifications well suited for the long-term growth of Welkoop’s distribution and e-commerce functions.

“Looking ahead, we continue to target industrial opportunities in core locations across the Netherlands and wider-Europe to further diversify our portfolio and continue to deliver stable returns to investors.”