Investment manager Realterm has acquired Hermelijnweg 27, a 3,652-square-meter industrial outdoor storage (IOS) building in Etten-Leur, the Netherlands.
The low-coverage building is on a 20,340-square-meter site and adds to the continued growth of the global transportation logistics real estate platform.
The lucrative Noord-Brabant logistics corridor is the most in-demand logistics area of the Netherlands, consisting of Etten-Leur, Roosendaal, Breda, Waalwijk, Tilburg and also Eindhoven. This central location offers convenient access for both national and international transport companies and is accessible within an hour’s drive from the Port of Rotterdam, Port of Antwerp and several other barge terminals.
Impressive rise in demand
Leonie Kierkels, Director of Asset Management, Realterm, says, “The Etten-Leur area, characterized by its advantageous locale and easy accessibility, has experienced an impressive rise in demand over the past year,
“We are confident in the long-term value of this facility, given the market’s strong activity, the property’s connectivity to local highways and the flexibility the property itself provides.”
The facility fully enables the truck maintenance process, with 10 drive-through maintenance bays, an additional level access door at the front, a vehicle washing area and a spray-painting station. The asset also offers flexibility, as the full northern border of the site can be used to access the property, which in the future provides options for expanded access areas and improved efficiency.
Marieke de Jong, Investments, Realterm, says, “This transaction further proves our commitment and investment in the European market, as it expands upon our May announcement that Realterm’s total European IOS portfolio includes over €250 million in assets.
“This highly differentiated property will be a valuable addition to Realterm’s current portfolio, and we look forward to expanding our presence in the region. Realterm has a long history executing on a differentiated IOS strategy which focuses on properties that facilitate the efficient movement of freight through supply chains, as opposed to generic outside storage. These include cross-docks, truckload operating centers, fleet maintenance, truck and van parking, container yards and delivery van EV charging. These transportation IOS properties are mission critical to our global occupier base.”
Realterm was advised in the transaction by JLL and DLA Piper.
