Nuveen buys 161,000 sq ft logistics asset in Netherlands

Nuveen buys 161,000 sq ft logistics asset in Netherlands

Nuveen Real Estate has added a newly developed logistics asset located in Moerdijk, the Netherlands to its portfolio.

The asset spans c15,000 sq m (c161,000 sq ft) of modern logistics space, divided into two units allowing for multiple tenancies if required.

The logistics asset benefits from its position in the ‘West Brabant Corridor’, which is considered to be one of the most attractive logistics locations in the Netherlands due to its connectivity to Rotterdam Harbour and access to Germany and Belgium by boat, train and road.

Nuveen Real Estate acquired the property from Accres Real Estate. Currently, the industrial hub is let to two tenants, both logistics providers, on five to 10-year leases, which will help to achieve stable returns over the long-term.

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“It is fantastic to have been able to add another high-quality industrial asset to our growing portfolio in the Netherlands. Its strategic positioning in one the country’s busiest logistics regions, as well as its strong tenant covenants, should help us to provide continued strong returns for our clients. Due to the quality of the logistics market in the Netherlands, we will continue to seek new opportunities to add to our portfolio in the region,” said Daan Van der Veen, Director Investment Manager for Nuveen Real Estate Benelux.

Nuveen Real Estate now has nearly EUR600 million of logistics assets under management in the Netherlands.