Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has agreed to forward purchase, on behalf of one of its co-mingled funds, a Grade A warehouse development in a prime logistics location in the wider Amsterdam port, 18 kilometres from Amsterdam city centre. The development is a build-to-suit for the Dutch subsidiary of leading German 3PL provider Fiege.
Situated on the newly created HoogTij business park in Zaandam, in the Amsterdam Metropolitan area, the 42,905 sqm institutional quality, generic warehouse will feature 6 T/sqm floor loading, 13.3 meter clear heights and a BREEAM Excellent certification. Construction has commenced and is expected to complete in Q3 2022, with Fiege acting as developer and Goldbeck as general contractor. The property will serve as the new consolidated location for the Dutch operations of Fiege, which employs more than 20,000 people at over 130 sites in 13 countries.
The HoogTij business park is strategically located on the northern shore of the Port of Amsterdam and in close proximity to the N246, A8 and A10, key arterial routes connecting to Amsterdam city, Schiphol Airport and the wider Randstad region. Several national and international companies have located to Zaandam in recent years, attracted by its excellent connectivity and access to medium/big box logistics plots.
Alistair Calvert, CEO of Clarion Partners Europe, commented:
“This is another highly attractive build-to-suit opportunity in what is one of Europe’s most established logistics hubs, with a long-term lease in place further de-risking the investment. Having been an investor in and owner of warehouse space around Amsterdam for over five years, we have a deep knowledge of the local market and have identified the Zaandam sub-market as offering scope to generate strong upside over the medium to long term. The property will be constructed to high sustainability and design standards, ensuring it is cost-efficient to occupy and suitable for a range of uses now and in the future. This development continues our focus on working with best-in-class developers and occupiers to deliver modern generic logistics into space-constrained markets.”
Pieter van Dop, Managing Director at Fiege B.V., commented:
“We are extremely pleased that, together with the expertise and support of our FIEGE Real Estate team, we are able to push ahead with the development of our modern logistics center. In terms of construction progress, we are right on schedule. In close coordination with the municipality of Zaanstad, we also focused on a modern and aesthetic design for the exterior of the new logistics center in order to harmonize it with its surroundings. Now we are looking forward to our construction project really picking up speed and being implemented in the upcoming months.”
Clarion Partners Europe was advised technically by Arcadis and legally by Houthoff. Fiege was advised commercially by JLL.