GPT Halverton has acquired a distribution warehouse property in Kassel for its EB8 fund. The property in Gobietstrasse is located in the Kassel-Waldau industrial park, the largest commercial zone in north Hesse. The complex comprises an extensive site with four buildings containing 15,000 m² ground-level warehousing space and 400 m² office space. The property was built in several phases between 1989 and 1991 and is 97% let. The Rudolph Logistik group is the sole tenant.
The city of Kassel lies at the geographical center of both Germany and the EU. Due to this central location, GPT Halverton anticipates strong demand for logistics and distribution centers. Kassel can be accessed from three motorways (A7, A44 and A49). The major cities of Hanover, Dortmund and Frankfurt am Main, with its international airport, can all be reached within 1.5 hours. Kassel also has two railway stations, one of which (Kassel-Wilhelmshöhe) is a halt for ICE (high speed) and intercity trains.
Real estate brokers Angermann of Hamburg and Leineweber of Kassel acted as agents for the transaction.