Hines buys Dutch logistics park

Hines has acquired ABC Westland in the Netherlands. The freehold logistics park is located close to The Hague and predominantly serves occupiers in the fresh fruit and vegetable industry, providing a wide range of services such as production, logistics, wholesale and trade, packaging and other related activities.

“ABC Westland fits perfectly into our global portfolio and its strategic location close to the Port of Rotterdam has enabled the site to become Europe’s leading food logistics hub, serving markets across the region,” said Lars Huber, CEO of Hines Europe. “The fresh produce and food park have massive growth potential.”

The financial terms were not disclosed; however, the sales price is reported to be approximately €116.5 million ($130.3 million).

The logistics park incorporates both a range of 13 existing buildings and land for potential future development. The property encompasses 117,000 square meters of logistics warehouse and commercial o