Logistics specialist P3 Logistics Parks has bought a 62,300 m2 development asset located in an established logistics park in Herkenbosch, the Netherlands, for an undisclosed amount.
The asset was bought from Solidiam, a residential, office, and logistics developer, in a forward funding transaction.
The construction of the high-end development is planned to start in Q1 2024. Upon completion in Q4 2024, P3 Herkenbosch will consist of a total gross leasable area of 62,341 m2, including a 55,540 m2 warehouse, 3,098 m2 office and a 3,703 m2 mezzanine space. P3 Herkenbosch will seek to achieve a BREEAM Excellent certification.
Léon Vié, managing director Netherlands & Belgium at P3 Logistic Parks, commented: 'P3 Herkenbosch is the next step in our growth strategy for the Netherlands. Following our previous forward-funding acquisitions in Amstelveen, Assen, and Emmen, this deal structure has proved to be a successful tool for us to expand our activities. We are excited to add another high-end warehouse at a prime location to our Dutch portfolio.'
Ronald Egger, managing partner at Solidiam N.V., added: 'Happy to announce that we have a second transaction with P3, shortly after our development in Emmen last October. The construction has already started, and we are in advanced discussions to lease out part of the building. The transaction with P3 indicates continued investor interest in the logistic market.'
Including this newly acquired site, P3 currently owns and manages 11 logistics sites across the Benelux, rented out to clients such as Lidl, Fresh Solutions Netherlands B.V., Jumbo, Yamato, Karl Rapp and Cargotech.
