Avignon Capital Enters Amsterdam Market With Data Center Buy

The 1999-built, fully leased facility traded for nearly $13 million.
148-152 Gyroscoopweg. Image courtesy of Avignon Capital

Avignon Capital has acquired an 80,191-square-foot data center in Amsterdam for $12.7 million (€11.6 million), marking the company’s first data center acquisition in the metro area. Somerset Capital Partners sold the facility, which is 100 percent leased by a large telecommunications company. 

Located at 148-152 Gyroscoopweg in Amsterdam-West, the three-story building came online in 1999. There are at least four other data centers within a 2-mile radius of the site, according to Data Center Map. The property is in the proximity of A10 ringway and approximately 10 miles from Schipol Airport.

Demand for data centers in Amsterdam continues to rise, driven by the ever-growing presence of cloud services companies in the area, which has put pressure on power networks and the property market. In July 2019, local authorities imposed a ban on permits for the development of new data centers in the Dutch capital, as the region houses about 70 percent of the data centers in the Netherlands, according to Bloomberg

The team representing the buyer included AC Nielson, Haagstate, Savills, The SLK and Westview Capital Advisers. SOLID. Attorneys assisted the seller in the disposition.