TH Real Estate completes Netherlands logistics hub delovpment |News
TH Real Estate has completed the development of a highly-sustainable premium logistics facility in the Netherlands.
The logistics development was acquired in 2017 for c.€22.6 million, together with the Cording Real Estate Group B.V..
Completed in June 2018, the developer VolkerWessels Vastgoed together with VolkerWessels Logistics Development finalised the state-of-the-art development, a turn key project for the new tenant EOSTA, an international importer and distributor of organic food produce, who has signed a 15-year fixed lease-term.
The asset benefits from attractive architecture and includes a number of sustainable features, such as an installed rainwater utilisation system to be operated for partial supply of the building and nearby landscaping, as well as electricity generated from a solar panelling system on the roof. The building offers a lettable area of 19,500 sq m (210,000 sq ft), comprising chilled cells to cater for the storage of various goods to be packaged and further distributed across Europe. The building specifications allow a maximum efficiency, accessible by 18 loading docks with the option for additional docks to be built in future.
Waddinxveen is well positioned between four Dutch major cities and is less than 30 minutes from the large population centres of The Hague and Rotterdam with approximately 3.5 million potential customers. This logistics hub is located at a new area specially designated for logistics activities in Waddinxveen.
James Ellis, Investment Manager at TH Real Estate says: "The Dutch logistics market continues to be a key focus for our European logistics platform, benefitting from an expansive infrastructure network linking to the main Western European markets. With a high-quality fit-out and a long-term lease in place, the acquisition offers investors a sustainable, defensive income stream, fitting ideally within our strategy as we continue to seek future proof investments in this increasingly competitive sector."
Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, London EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. TH Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). TH Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.