AEW, the global real estate investment manager,announces the acquisition of a Grade A logistics development in Hoofddorp, the Netherlands. The asset was acquired through a forward funding agreement with developer Minerva Development on behalf of a German separate account investor.
“De President” is fully let to Scotch & Soda, the Dutch fashion retailer, on a 10 year lease. Due to complete in mid-2022, the asset will comprise 20,000 sqm of warehouse and office space over three floors with basement car parking spaces. The asset will have photovoltaic panels installed on the roof and is seeking BREEAM “Excellent” energy certification, WELL Certification “Gold” and will have an EPC label “A”.
The development is situated in Hoofddorp, a town located 20km from Amsterdam, and in one of the fastest growing economic hubs in the country given its proximity to the City and international airport. The asset will have strong transport connections, located 10 minutes from Schiphol Airport, 2km from Hoofddorp train station and adjacent to the A4 and A5 motorways with connections to Amsterdam, the Hague and Rotterdam.
Source : Company