German logistics real estate specialist LIP Invest has acquired a logistics project in the southern German town of Herbrechtingen for one of its funds.
Financial details were not disclosed.
The asset, located in Robert Bosch Straße, was sold by Panattoni. List Bau Bielefeld is building the approximately 10,000 m2 logistics property as general contractor.
Logistics firm DB Schenker has rented the new building on a long-term basis, as part of plans to move its operations from Ulm to Herbrechtingen. The cross-dock terminal will be used 24/7.
Said Bodo Hollung, partner and managing director of LIP Invest: 'The availability of land in the greater Ulm area is very limited, so we are very pleased to have acquired the last available estate in the Lengenfeld industrial park in Herbrechtingen.
'130,000 m2 of logistics space has already been realised here, luring many new logistics companies to Herbrechtingen.'
The high specification building, which features protection for hazardous substances and LED lighting, is seeking DGNB Gold certification. The property is due for completion in May 2022. In addition, a separate, two-storey, high-quality office building with a passenger elevator is being built on 1,900 m2 of space.
The hall is served via a ground-level gate and 74 loading gates with dock levellers, one of which is suitable for jumbo vehicles. With over 15,200 m2, the outdoor area offers sufficient space for shunting and docking operations.
In addition, there are 70 parking spaces for cars, 40 for trailers and 71 for trucks, 51 of which are for swap bodies. The outdoor area also includes a covered garbage station and e-charging stations for cars.
During the off-market deal LIP received technical support from Cushman & Wakefield, legal support from Ashurst, tax support from Ebner Stolz as well as advice from ES Enviro Sustain on ESG due diligence.