Amsterdam, 16th Augusts 2021 - Amsterdam Logistic Cityhub (ALC) has been sold to CTP, a top five European real estate developer and operator. The facility is the first XXL multi-storey logistics city hub in the Netherlands. ALC comprises approximately 120,000 m² of net rentable storage and last mile distribution space and 1,700 parking spaces. The sale is the largest single asset transaction in logistics real estate in the Netherlands to date.
Progressive logistics solutions
Amsterdam Logistic Cityhub is designed to shorten the last mile to and from the center of Amsterdam. The facility will provide a solution to the increasing congestion and lack of space in and around our capital city. ALC meets the strong demand for storage and last mile distribution space near the city center and facilitates emission-free parcel delivery and the supply of the inner city by both land and water. ALC is strategically located in the port of Amsterdam and offers direct access to the A10 ring road (3 min) and the city center via the North Sea Canal (7 min).
ALC will offer approximately 120,000 sqm of net leasable floor space of exceptional class, including 90,000 sqm of storage space, 11,000 sqm of high quality office space, 17,000 sqm of mezzanine space with potential for expansion to 74,500 sqm. In addition, there will be approximately 1,700 parking spaces, 200 loading docks and a 180 m private wharf.
Multimodal and maximally sustainable
The site includes 220,000 sq. ft. of total sustainable solutions. ALC has multimodal functionality and is being built to outstanding specifications. Once completed, ALC will be one of the most sustainable sorting and logistics centers in the Netherlands. The facility is a forerunner in the field of sustainability; the water connection with the city center enables water transport with electrically powered boats, in addition ALC facilitates emission-free transport to and from the capital. With energy generation by solar panels and wind turbines on the premises, ALC is self-sufficient. Because of these high standards, the facility will receive a BREAAM "Excellent" certification.
Wim Beelen, entrepreneur and creator of ALC: "The vision for Amsterdam Logistic Cityhub has always been strong. This transaction confirms CTP's confidence in the concept and in the developments of the logistics market in the Amsterdam region. We have established a new perspective on inner-city distribution with the development of ALC; the hub sets the tone for the future of logistics and contributes to an emission-free inner city. As a team we are immensely proud to have brought ALC to where it is today, and even prouder to end our 'last mile' with a historic transaction."
Ralph de Munnik, Director CTP Netherlands: "We are extremely proud to have been able to conclude this agreement and look forward to an intensive collaboration with the Municipality of Amsterdam and Port of Amsterdam. Amsterdam Logistic Cityhub is an absolute frontrunner in the field of last mile logistics solutions to relieve busy inner cities. The demand for such logistics business space in the Amsterdam region is strong and we expect this demand to increase even further. However, the current supply and development pipeline in a region with a vacancy rate of approximately 6%, are limited. The city hub is therefore a unique opportunity to serve both existing clients of CTP and new clients in the Amsterdam region and fits our profile as a developer of high-quality business parks. The multi-tenant, sustainable and multimodal character of Amsterdam Logistic Cityhub combines all the characteristics of a CTPark in one building. This acquisition represents a brilliant expansion of the CTP network and a great step in our ambition to grow further in the Netherlands."
Sellers are entrepreneurs Wim Beelen and Paul Vermaat (Larendael Development and Bridges Real Estate). Sellers were assisted by DLA Piper and CBRE, CTP was advised in the transaction by Dentons Amsterdam (legal), Savills Nederland (commercial) and EY (tax).
CTP is a top five industrial real estate developer in Europe and the largest in Central and Eastern Europe, with more than 6.6 million sqm of logistics space and operations in nine countries. The company is on track to expand its portfolio to 10 million sqm by the end of 2023. With its entire portfolio BREEAM-certified, CTP claims the position of the most sustainable developer in the region and is on track to be carbon neutral by the end of this year. At the end of March 2021, CTP listed on Euronext Amsterdam, with an issue of 397,017,000 shares at a price of €14 per share, implying a market capitalization for the company of €5.6 billion at listing. On July 30, 2021, CTP's market capitalization was €6.7 billion.