Real estate investment fund manager Clarion Partners Europe has acquired a Grade-A warehouse in Rotterdam, the Netherlands for €43 mln.
Located in the business park De Dijk in Maassluis, adjacent to the Rotterdam port, the 22,524 m2 logistics facility was recently completed in 2021. The freehold property is fully let on a long-term lease.
Rory Buck, managing director at Clarion Partners Europe, commented: 'This is a land-constrained logistics location in close proximity to Europe’s largest port, likely to benefit from significant future rental growth.
'At the same time, the attractive day one income profile and criticality of the property for the occupier is strongly aligned with our wider strategy. The investment case for logistics in the Netherlands remains highly compelling, underpinned by improving global trade, Brexit and rapid e-commerce acceleration.'
Clarion Partners acquired the asset on behalf of one of its comingled funds. The firm recently agreed to also forward purchase a new warehouse development in Zaandam from the Dutch subsidiary of leading German 3PL provider Fiege.
Clarion was advised by Savills on commercial, Houthoff on legal and CBRE on technical.