Logistics real estate developer Panattoni has successfully sold its fully leased Panattoni Park Venlo South III to Cabot Properties, a private real estate investor, developer, and operator specializing in logistics properties. The logistics park spans approximately 42,500 square meters and has been developed in accordance with the BREEAM-NL Very Good certification, featuring approximately 24,000 square meters of high-quality logistics space. GXO, the world's largest pure-play contract logistics service provider, recently signed a long-term lease contract for the park.
Brownfield development
Panattoni Park Venlo South III is a remarkable brownfield development. The distribution center is situated on a redevelopment site where an old brick factory was located until 2013. After years of being on the market, the factory building dating back to 1915 was demolished in 2019, and the site underwent remediation. Panattoni then constructed a sustainable, BREEAM-certified distribution center that is fully electric and free of natural gas. In addition to the distribution center and office space, the park includes a bicycle parking area, a parking lot with electric charging stations, and green areas that enhance the ecological value of the park. Furthermore, the vast roof offers the potential to be transformed into a solar park, providing renewable electricity not only to the building but also to a significant number of Dutch households.
Koen de Jong, Vice President of Investments at Cabot Properties, stated, "Sustainability plays a crucial role in our new real estate investments, and in a changing market environment, we believe sustainable logistics real estate retains the most value in the long term. Panattoni Park Venlo South III is a high-quality brownfield development and, as a sustainable certified project, it is a great addition to our portfolio."
CBRE assisted Cabot Properties in the acquisition, while JLL supported Panattoni Nederland in the transaction. The parties have agreed not to disclose the value of the transaction.
Strategically located for European distribution
Panattoni Park Venlo South III is not only known for its sustainability, but also for its unique strategic location. Situated in the southeastern part of the Netherlands, in the Limburg region, near the Belgian and German borders, the development is positioned for long-term resilience. With an excellent multimodal network and a large customer base, many well-known national and international companies, including DHL, Broekman Logistics, Samsung, and Lidl, have chosen to establish their presence in this area.
Jeroen Gerritsen, Managing Director of Panattoni the Netherlands, stated, "This development is literally in the heart of the southern logistics corridor connecting Rotterdam and Antwerp to the German hinterland, the Rhine-Ruhr region. With over 10 million inhabitants, the Rhine-Ruhr region is Germany's largest metropolitan area. With 18 million consumers within a one-hour drive, 160 million within 500 km, and 220 million within 1,000 km, the Limburg region serves as a crucial hub for European distribution. Thanks to its exceptional multimodal network and a large customer base, it remains an absolute top location for international logistics companies and retailers."
About Cabot Properties
Cabot Properties is a private partnership wholly owned by senior members of the team. As a registered SEC investment advisor, Cabot Properties is committed to delivering excellent service to institutional investors. Over time, Cabot Properties has invested over $14 billion in logistics real estate, serving over 4,000 tenants and managing over 1,600 buildings totaling more than 200 million square feet. With headquarters in Boston and offices in Atlanta, Chicago, Dallas, Los Angeles, London, Sydney, and Amsterdam, Cabot Properties is a leading player in the industry.
