Atisreal brokers completes biggest German logistics transaction (DE)

The biggest German logistics transaction of the past few years has recently been completed in Hamburg. On a site of around 150,000 m² in the Allermöhe district of Hamburg, the garment company Hennes & Mauritz (H & M) is to have an ultra-modern distribution center erected, with an area of about 115,000 m². H & M was advised on an exclusive basis by Atisreal Germany, which staged an international investor contest. This was won by The Carlyle Group, which will now build the logistics and warehouse centre for H & M. The international investment company, which acquired the site for the project from the City of Hamburg, conducted the investment through its European property fund Carlyle Europe Real Estate Partners II.

Construction work at the Rungedamm site in the Hamburg-Allermöhe business park is expected to commence this autumn. Completion is scheduled for summer 2008. Then, around 1,000 employees will supply the German and Dutch H & M chain stores from there. In addition, the company will use the centre as a transit warehouse for handling part of the company's globally sourced goods. Hamburg is also where H & M's German head office is based. "This is a transaction of historic significance", says Marcus Zorn, Regional Director Hamburg of Atisreal GmbH. "With it, H & M has made a decision which will have a long-term influence on Hamburg's importance as a major logistics hub."

Source: Atisreal Holding GmbH

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