AEW pre-lets 20,000 sqm logistics unit in the Netherlands
AEW, a leading global real estate investment and asset management platform, has pre-let a 20,000 sqm logistics unit in The Netherlands on behalf of LOGISTIS, its specialist pan-European logistics strategy.
Currently under construction, the property at Green Mountains Logistics Park (GMLP) on the outskirts of Amsterdam, has been let to VCK Logistics on a long term lease.
The new high-tech distribution unit is expected to complete at the end of 2020 and is being developed by LOGISTIS in partnership with Borghese Logistics, a Dutch specialist logistics developer. It is the third property to be constructed on the Park, which is located adjacent to Schiphol Airport, with the fourth and final unit also underway. The two existing buildings are already fully let to blue chip tenants.
VCK Logistics is consolidating its presence at GMLP, where it is an existing tenant, and the latest agreement takes the total space it occupies to 33,000 sq m, across 2 buildings with an option to expand further in the future. LOGISTIS and Borghese commenced the phased, speculative development of GMLP in 2016 following the acquisition of a strategic, 25ha site bordering the airport runway. The campus will eventually comprise four grade A distribution units totalling circa 110,000 sq m of lettable area.
Jason Grundy, Deputy Fund Manager of LOGISTIS, says: “We are delighted to accompany VCK Logistics’ expansion of its new hub location in Schiphol. GMLP is a flagship project for LOGISTIS, and such leasing successes are an endorsement of our speculative development strategy, which we implement alongside local partners in prime locations, creating durable value for our clients. This lease enables us to move forward with the final development phase at the Park, and thereby further benefit from the resilient dynamics of this sector, which we believe have strengthened against the backdrop of the pandemic.”
LOGISTIS owns over 3.9 million sqm of prime logistics space across Europe. Since the platform was created 20 years ago, LOGISTIS has assembled a portfolio that today comprises 98 logistics assets across 38 sites in France, Germany, Belgium, the Netherlands, Poland, the Czech Republic, Italy and Spain. The Fund, which has consistently outperformed its benchmark indices over the short and long term, has a total value, including developments after completion, of approximately EUR3.5 billion.
Industrial Real Estate Partners acted as leasing agent on behalf of LOGISTIS & Borghese.