CTP, a top-five industrial property developer in Europe, announced the acquisition of the Amsterdam Logistic Cityhub (ALC) with a net transaction value of €307 million for 100% of the shares of this single asset. The XXL city hub in the Western Docklands of Amsterdam is currently being constructed. Upon completion (end of 2022), will comprise approximately 120,000 m² of storage and last mile, multi-layer distribution space.
ALC is a multi-tenant complex and includes approximately 11,000 m² of office space, with approximately 1,700 parking spaces, 200 loading docks, and a private 180-meter quay. CTP will acquire ALC from entrepreneurs Wim Beelen (Larendael Development) and Paul Vermaat (Bridges Real Estate). The ALC acquisition is the largest single-asset transaction in logistics real estate in the Netherlands to date.
The city hub meets the strong demand for storage and last-mile distribution space at a short distance from the city center, suitable for emission-free delivery and supplying the city center by land and water. Amsterdam Logistic Cityhub is strategically located in the port of Amsterdam with direct access to the A10 ring road and the North Sea Canal. The city hub is expected to be completed in the fourth quarter of 2022 and is already partly leased up.
According to the highest sustainability standards, the construction is carried out, and business operations will be maximum energy neutral. The connection with the city center by water enables transport with electrically powered boats, and with electricity generation through solar panels and wind turbines, ALC is self-sufficient. ALC will be BREEAM Excellent certified as soon as the distribution center is completed.
Ralph de Munnik, Director CTP Netherlands: “We are extremely proud to have been able to conclude this agreement and look forward to intensive cooperation with the City of Amsterdam and Port of Amsterdam. The Amsterdam Logistic Cityhub is an absolute pioneer in ‘last mile’ logistics solutions to relieve busy city centers. There’s a strong demand for such logistics business space in the Amsterdam region, and we expect this demand to only increase. Currently, the region’s supply and development pipeline is limited, with a vacancy rate of 6%. Therefore, the city hub is a unique opportunity for us to serve both existing clients of CTP and new clients in the Amsterdam region and fits our profile as property developer of high-tech business parks. Furthermore, the multi-tenant, sustainable and multimodal character of Amsterdam Logistic Cityhub combines all the aspects of a CTPark in one building. The acquisition is a wonderful addition to the CTP network and a great step in our ambition to accelerate our growth in the Netherlands.”