Le mie ricette per la real estate communityHIH Invest Real Estate (“HIH Invest”) just acquired a logistics property located in the town of Sittensen in Lower Saxony for an open-ended special fund owned by an institutional investor. The modern logistics asset was constructed by Panattoni, an internationally operating real estate developer. Completed to excellent specification, the property occupies a plot of about 40,000 square metres and provides a total lettable area of about 24,000 square metres, which breaks down into 21,403 square metres of logistics space, 1,419 square metres of mezzanine space, and 1,110 square metres of office space, complemented by 85 parking spots. The logistics property was completed this past March.
It is planned to have the logistics property certified under the “Gold” label of the DGNB German Sustainable Building Council. The building’s structural design permits the rooftop installation of a photovoltaic system. A lease agreement for the roof surfaces has already been signed toward this end. “The warehouse impressed us not least by being ESG compliant and by having a high energetic building quality. The property is also set up to accommodate the growing significance of electric mobility. EV charge points can be installed in some parts of the parking areas,” added Christian Kramp, Senior Fund Manager of HIH Invest.
Other distinguishing characteristics of the new fund asset include its strategically convenient location directly next to the A1 motorway and within easy reach of the A261 and A7 motorways in the heart of two heavily frequented German logistics regions. The driving time to Hamburg is about 45 minutes, and about an hour to Bremen. The ports of Bremerhaven and Wilhelmshaven are also within reach, each being a 90-minute drive away. As far as air cargo goes, the nearest airports are those in Hamburg and Bremen. Both the logistics market in the Hamburg metro area and in the Bremen metro area are characterised by persistently strong demand for space, making it reasonable to expect a continued rise in rental tones.
Its sole tenant is Yusen Logistics GmbH, a German subsidiary of a globally active logistics service provider. The lease was signed for a ten-year term, starting with the completion.
Image rights : Panattoni
Source : HIH Invest Real Estate