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MARKETVIEW

The Netherlands Industrial Marketview H2 2014

Trade growth fuels occupier


market
+29.7% y-o-y

-3% y-o-y

+45% y-o-y

- 55bp y-o-y

HEADLINES

Exports are the main driver of the economic upturn


in the Netherlands, with consumer spending still
lagging behind

Against the backdrop of economic stimuli, the


investment market for industrial property recorded

A N T I CI P A T I O N O N GR O W T H

the highest turnover since 2008

Trade growth and e-commerce operations are


driving demand for logistics space

Shortage of modern, high-quality logistics space is


likely to boost new construction activity

E X P O R T S P UT E CO N O M Y B A CK O N T R A CK

H2 2014 CBRE Research

2015 CBRE B.V.|

M A R K E T V I E W NETHERLANDS INDUSTRIAL
STRONG MODERNISATION TREND

I N V E S T O R S S E E K I N G M O M E N T UM

Chart 1. Logistics vacancy rate

New (5yr)

Dated (>5yr)

Dated (LT-avg)

2014Q4

2014Q3

2014Q2

2014Q1

2013Q4

2013Q3

2013Q2

2013Q1

2012Q4

2012Q3

2012Q2

2012Q1

2011Q4

2011Q3

2011Q2

2011Q1

2010Q4

2010Q3

2010Q2

16%
14%
12%
10%
8%
6%
4%
2%
0%

Source: CBRE Research


H2 2014 CBRE Research

2015 CBRE B.V.|

M A R K E T V I E W NETHERLANDS INDUSTRIAL
Chart 2. Logistics take-up
existing

1,200

new

pre-let/bts

1,000

x 1,000 sq m

800
600
400
200
Q1
Q2
Q3
Q4
2009
Q1
Q2
Q3
Q4
2010
Q1
Q2
Q3
Q4
2011
Q1
Q2
Q3
Q4
2012
Q1
Q2
Q3
Q4
2013
Q1
Q2
Q3
Q4
2014

Source: CBRE Research

Chart 3. Mainport cargo transhipment


Rotterdam
x mio t
115

Rotterdam

Schiphol
x 1,000 t
450

Schiphol

110

400

105

350

100

300

95

250

85

200
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4

90

Source: Port of Rotterdam & Schiphol Group

Chart 4. Industrial investment


x mio EUR

Logistics

Multi-let

Other

2500
2000
1500
1000
500
0
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Source: CBRE Research


H2 2014 CBRE Research

2015 CBRE B.V.|

M A R K E T V I E W NETHERLANDS INDUSTRIAL
Table 1. Key occupier transactions 2014
Location

Type

Tilburg, Vossenberg-West II

Logistics

Nieuwegein, Het Klooster

Quarter

Status

Tenant

Size (sq m)

Q4

New

Tesla Motors

49,000

Logistics

Q2

Pre-let

ND Logistics / Albert Heijn

41,000

Nijmegen, De Grift

Logistics

Q3

Pre-let

Nabuurs / Heinz

40,000

Moerdijk, Seaport

Logistics

Q4

Existing

Owim / Koolwijk

40,000

Tiel, Medel

Logistics

Q4

Pre-let

Kuehne & Nagel

33,000

Hasselt, Zwarte Water

Logistics

Q4

Pre-let

Scania

29,000

Tilburg, Vossenberg-West II

Logistics

Q4

Pre-let

Coolblue

25,000

Oss, De Geer

Logistics

Q1

Pre-let

Vos Logistics

25,000

Venlo, Business Park Siberi

Logistics

Q3

Pre-let

Seacon Logistics

22,500

Bergen Op Zoom, Noordland

Logistics

Q3

Pre-let

Forever 21

20,000

Source: CBRE Research

Table 2. Key investment transactions 2014


Location / portfolio

Type

Quarter

Purchaser

Price ( M)

Size (sq m)

Pelican portfolio

Logistics

Q1

Prologis

168.5

343,500

Nationwide portfolio

Multi-let

Q2

Hansteen

106.0

270,000

Zander portfolio

Multi-let

Q2

M7 Real Estate

78.0

175,000

Amsterdam, Casablancaweg

Logistics

Q4

DCAM

75.0

105,600

Echt, Action DC

Logistics

Q2

WDP

56.2

87,000

BIP Portfolio

Multi-let

Q2

M7 Real Estate

44.0

106,000

Waddinxveen, Transportweg

Logistics

Q4

DCAM

38.0

41,000

Hattrick portfolio

Logistics

Q1

LogiCor

34.5

56,250

Utrecht, Atoomweg

Logistics

Q4

USAA Realco

33.7

38,000

Venlo, Curve portfolio

Logistics

Q3

LogiCor

29.3

44,900

Source: CBRE Research

H2 2014 CBRE Research

2015 CBRE B.V.|

M A R K E T V I E W NETHERLANDS INDUSTRIAL
O UT L O O K

CO N T A CT S

CB R E O F F I CE S

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