ABN Amro Meespierson has acquired a new distribution centre in the Dutch city of Waalwijk in a sale-and-leaseback transaction with retailer Spar for EUR 23 mln. Spar has signed a 15-year lease agreement with ABN Amro Meespierson Real Estate Growth Fund.

Property adviser Savills advised ABN Amro Meespierson, the private banking arm of the Dutch bank ABN Amro, on the deal.

The logistics centre, which is a modern, sustainable development, has a total floor area of 28,000 m2 and is located near the A59 motorway.

Clive Pritchard, head of investment at Savills in the Netherlands, said: 'There have been few transactions in the logistics market in the past three years so this deal is a sign that investor confidence in the market is returning and confirms that overall business for logistics operators is continuing to recover and improve.'