Pan-European investment fund Gramercy Property Europe, which focuses on pan-European sale-leaseback and single-tenant transactions, has acquired a 60,500 m2 logistics warehouse in the Dutch city of Utrecht, for an undisclosed sum.
Gramercy Property was advised by Gramercy Europe Limited, a specialist real estate investment fund manager.
The property is fully let to Kuehne + Nagel Logistics.
'The Utrecht region is one of the Netherlands' key logistics hubs and this acquisition complements our current portfolio. We are very pleased to add Kuehne + Nagel to our tenant roster, which includes most of Europe’s largest 3PLs (third party logistics providers),' commented Alistair Calvert, CEO of Gramercy Europe. 'The mature, liquid markets of Western Europe continue to offer attractive returns for our investors and most notably a yield that is unattainable across most other asset classes.'
Gramercy Property said that with around 80% of the Dutch population resident within 100 km of the area, occupier demand was strong. It noted that a number of other leading third-party logistics providers are located at the same Lage Weide logistics park.
