Port of Rotterdam sells Port City III to Credit Suisse

Port of Rotterdam has sold office building Port City III in Rotterdam to CS REF Global, a new listed fund of Credit Suisse.

The property at the Waalhaven 11 provides a total of 6,918 sq m office space on ground- and seven upper- floors and an underground parking facility with 194 parking places. The building is fully let to Argos Oil, one of the fastest growing oil companies in Europe. The company produces and sells fossil fuels and oils for customers primarily in the Netherlands, Belgium, Luxemburg, France, and Germany.

Waalhaven is a sub-area of the port of Rotterdam and the main office location because of its central position between the Rotterdam city centre and the western port-related activities including Pernis, Hoogvliet and Europoort. The Waalhaven has a good connection with the motorway A15 (Europoort - Nijmegen) and at the north side with the Maastunnel.

Port City III is a high-quality office development completed in 2011. It is part of the Port City development which consists of three office buildings. Building I is developed by the owner occupier Broekman Group. Buildings II and III are developed by the Port of Rotterdam Authority.
Port of Rotterdam Authority manages, operates and develops the Rotterdam port and industrial area. Their aim is to enhance the port of Rotterdam’s competitive position as a logistics hub and world-class industrial complex.

The Port City buildings are located on a “deck”, 1.5 m above the level of the surrounding area.
A maritime atmosphere prevails on the deck, created by the immediate proximity of the water and the design of the public area and buildings. The deck provides a public space from which to enjoy one of Rotterdam’s most beautiful harbour views.

CBRE provided integrated advice to Port of Rotterdam in this transaction. Jones Lang Lasalle acted on behalf of Credit Suisse. Loyens & Loeff was attracted as legal adviser.