Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has completed the acquisition, on behalf of one of its co-mingled funds, of a 41,304 sqm Grade-A logistics property in Venlo, The Netherlands, for €47.4 million, from Patrizia SE.
It takes Clarion Partners Europe’s total deployment in The Netherlands to €222 million in 2024, in what continues to be one of the top performing European regions from a rental growth perspective.
The grade-A single tenant property, constructed in 2016, is leased to a subsidiary of 3PL logistics and supply chain management business Arvato Group, with four years remaining. In line with Clarion Partners Europe’s commitment to responsible investing, the property has a BREEAM Very Good environmental certification.
It is located in Trade Port Noord industrial park, an established hub for both manufacturing companies as well as logistic service providers, northwest of Venlo city centre. Venlo is a major pan-European distribution hub due to its location within the corridor of the Rotterdam port and proximity to western Germany’s dense population centres.
Rory Buck, Managing Director at Clarion Partners Europe, commented: “The Netherlands logistics market continues to see strong rental growth, underpinned by healthy consumer spending and associated distribution activities. With a limited development pipeline and very low vacancy rates, the Netherlands will remain one of our key investment markets.”
Florina Capraru, Director at Clarion Partners Europe, added: “This was a rare opportunity to acquire a highly reversionary asset, in a hugely undersupplied market, with over 19 million people living within 100km. Venlo is one of Europe’s major pan-European transportation and distribution hubs, and with a vacancy rate close to zero, this investment is an ideal addition to our portfolio.”
Clarion Partners Europe was advised by Loyens & Loef. Patrizia SE was advised by TLF Real Estate and Loyens & Loef.
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