P3 buys new 62,300-square-metre DC in Herkenbosch

P3 Logistic Parks is expanding its Dutch portfolio with the acquisition of a new distribution centre in Herkenbosch. The property investor and manager bought the property from property developer Solidiam. The distribution centre, to be named P3 Herkenbosch, is expected to be completed in the fourth quarter of 2024.

In line with the company's growth strategy, P3 Logistic Parks has closed a new forward-funding deal with the acquisition of a modern distribution centre and office to be developed in the Netherlands. Located in an established business park in Herkenbosch, the project comprises office, logistics and semi-industrial buildings. With connection to the N570 and close to the A73, the area is easily accessible, also from Belgium and Germany.

The project will start in the first quarter of 2024. Upon completion in the fourth quarter, P3 Herkenbosch will consist of 62,341 square metres of lettable space, including 55,540 square metres of warehouse space, 3,098 square metres of office space and 3,703 square metres of mezzanine space. With the application of LED lighting, a water management system, bicycle parking facility and the option to install photovoltaic panels, the focus is on energy performance. For P3 Herkenbosch, P3 is aiming for the BREEAM certificate 'Excellent' for sustainability.

Léon Vié, managing director Netherlands and Belgium at P3 Logistic Parks: "P3 Herkenbosch is the next step in our growth strategy for the Netherlands. This deal follows our previous forward-funding acquisitions in Amstelveen, Assen and most recently Emmen. It has proven to be a successful way to further expand our business. We look forward to adding another modern distribution centre in a key location to our Dutch portfolio."

Ronald Egger, managing partner at Solidiam: "We are pleased to announce that we have closed a second transaction with P3, shortly after our development in Emmen last October. Construction has already started and we are in advanced discussions to lease part of the property. The transaction with P3 indicates that investors remain interested in the logistics market. The cooperation with the municipality, neighbours and other stakeholders was key to the success of this development."

Including this new facility, P3 currently owns and manages 11 logistics sites in the Benelux, leased to clients such as Lidl, Fresh Solutions Netherlands, Jumbo, Yamato, Karl Rapp and Cargotech.