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Online Retail Spurs Record Investment in European Warehouses

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European warehouses attracted record investment last year as Internet retail growth boosted demand for storage space close to the homes of online shoppers.

Investment climbed by 28 percent to 21.7 billion euros ($22.9 billion), according to Jones Lang LaSalle Inc. Anticipation of a prolonged rise in Internet retail has sparked competition for assets, causing average yields to narrow to 7.8 percent last year from 8.9 percent in 2013, according to broker DTZ Holdings Plc. Average yields for the best offices in Europe stand at about 5 percent.