Clarion Gramercy, a real estate investment fund manager specialising in logistics and industrial assets, has agreed a 17,000 sqm letting with Picnic, one of Europe’s fastest growing online supermarkets, at its recently completed prime warehouse development on the Lage Weide logistics park in Utrecht, the Netherlands.
Clarion Gramercy forward funded the development of the property in early 2019, on behalf of its comingled funds, with practical completion in December last year. The finished property features 12.2 metre clear heights, 50kN/ sqm floor loading capacity, LED lighting and a BREEAM Very Good certification, along with 101 car parking spaces.
Picnic currently services over 100,000 customers across the Netherlands and has experienced a period of above average demand in recent months, as consumer demand for online grocery delivery has increased as a result of the Europe wide lockdown. The warehouse represents its seventh fulfilment centre in the Netherlands.
Utrecht is the fourth largest city in the Netherlands and a prime logistics hotspot, benefitting from its central position and excellent transport networks, including extensive national railway and motorway connections. The Lage Weide logistics park is Utrecht’s main logistics hub, home to a large number of established occupiers and strategically located adjacent to the A2.
Clarion Gramercy is Clarion Partners’ European arm, focused on investing in logistics and light industrial properties located across Germany, the Netherlands, France, Spain, Italy and other European countries. Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 38 years. Headquartered in New York, the firm maintains strategically-located offices across the United States and Europe. With more than $56.4 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 350 domestic and international institutional investors.
Source : Company