Garbe buys logistics development near Schiphol Airport for €40m

Garbe buys logistics development near Schiphol Airport for €40m

Garbe Industrial Real Estate Netherlands has purchased a logistics development from Dutch City Development at Green Square, in Aalsmeer, for €40 million via an off-market, forward-funding transaction.

Green Square Logistics I measuring approximately 25,000 sqm in size, was purchased on behalf of one of GARBE’s investment funds, Garbe Logistikimmobilien Fonds Plus II (GLIF+II). Green Square is a high-end mixed-use development located close to Amsterdam’s Schiphol Airport in the heart of the Dutch flower industry.

Maurits Smit, Managing Director Garbe Industrial Real Estate Netherlands: “Amsterdam’s Schiphol Airport is one of the leading logistics locations in the Netherlands where demand for high-quality logistics warehouses is very strong. The building is emerging on one of the few greenfields in the wider region and will cater to companies active at the top end of the ornamental floriculture sector as well as manufacturing companies and traditional logistics. Further warehouse developments are planned on this exceptionally well-connected business park alongside a hotel, offices and leisure facilities.”

Green Square is a five-minute drive away from Amsterdam’s Schiphol Airport while the nearby A4 motorway offers a direct 45-minute connection to the port of Rotterdam.

Green Square Logistics I is being developed to high sustainability standards and will target a BREEAM Very Good rating. Alternative energy sources to gas such as solar panels will be used and the building will be equipped with LED lighting and large tripleglazed windows to provide as much natural daylight as possible.

The logistics development is scheduled for delivery in the fourth quarter of 2022 and, on behalf of Garbe, JLL and Bridgegap will commence shortly with leasing activities for the entire property.