Nuveen Real Estate is forward funding the development of a 17,000 m2 logistics warehouse in the southwestern Netherlands, due to complete in the first quarter of 2024.
The building, dubbed Project VOLT, is located on a 25,000 m2 site on the Kickersbloem 3 industrial estate in the southwestern municipality of Hellevoetsluis.
The warehouse is being developed by U-Build and PLOT Real Estate in accordance with BREAAM Very Good criteria.
Nuveen will add the building to its European Logistics Fund II on completion. Financial details were not disclosed.
The investment manager was advised on the transaction by CMS (legal) and by Hollis (technical). The vendors were assisted by Core Notariaat (legal) and commercially by PLOT Real Estate.
