LaSalle Investment Management has purchased a 60,000-square-meter (645,834-square-foot) urban logistics facility from ULP Bleiswijk B B.V., a joint venture between USAA Realco Europe B.V. and Somerset Capital Partners B.V.
LaSalle bought the asset, located north of Rotterdam, The Netherlands, on behalf of its Pan-European fund Encore+, increasing the fund’s exposure to the Dutch logistics market.
The Bleiswijk Urban Logistics Center is located in the Randstad area, considered one of the most important logistics hubs in The Netherlands. It is located 15 kilometers (9.3 miles) from the Port of Rotterdam.
“Across Europe we are seeing that the growth of e-commerce is driving demand for logistics and we expect this to continue, especially in The Netherlands where online sales account for only about 10 percent of total retail sales and are forecast to grow significantly in the next few years,” said David Ironside, fund manager of Encore+.
The purchase fol
