Swiss Life Asset Managers is expanding its development portfolio with the acquisition of a 47,000 m2 site in Altusried in the Allgäu region of Germany.
Swiss Life will develop the Swabia South 1 project with more than 30,000 m2 of rental space on the brownfield site. Construction work is scheduled to start in the first quarter of 2024 and be completed in the first quarter of 2025.
‘With this land, we were able to acquire a promising site in a dynamic economic region,’ said Ingo Steves, managing partner, Logistics
Most of the property's 30,150 m2 of total lettable space will be taken up by logistics areas, while around 1,000 m2 of social and office space will be available.
A photovoltaic system and heat pumps are to be installed on the roof. In addition to other measures, e-charging stations for cars and bicycles and a green façade are planned for the exterior. Overall, the property is aiming for BREEAM Very Good certification.