Gazeley sells sustainable distribution center in Kassel for €35 million (DE)

Gazeley, a leading global supplier of logistics warehouses and distribution parks, has completed a new build-to-suit project in Kassel, Germany, and simultaneously sold it to DEKA Immobilien.

The building was handed over to the tenant SMA Solar Technology AG, a world leading manufacturer of solar components, on December 16, 2011.

This is the biggest project development so far at Gazeley's Magna Park Kassel. The official handover of the 47,000-m² distribution center took place one month earlier than the originally intended date which is proof of the smooth work flow and the excellent cooperation between Gazeley and the customer.

The negotiations for the sale of the building were initiated early in the building phase, and have now been successfully closed. The property has been designed in line with the sustainable 'Silver Certificate' of the German DGNB, (Sustainable Building Council) and will be included in the sector fund 'WestInvest TargetSelect Logistics' of DEKA Immobilien.

Ingo Steves, Country Director Gazeley Germany, said: "The fact that this Gazeley built-to-suit development has been acquired by one of the biggest German asset managers of core property is testimony to the high quality and reliability of our product. Gazeley delivers buildings that suit the specific needs of our customers, while taking the investor's perspective into account."

The energy-efficient and sustainable design of the center is topped by a huge photovoltaic roof across an area of 45,000 m², which is set to achieve an energy output of 2.3 MW.

Source: RED Consultancy

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