Union Investment Real Estate AG has acquired the Ten Brinke logistics park in Bremerhaven, northern Germany, for its Immo-Invest: Europa institutional fund, in a transaction worth some €21 million. The vendor of the property, which was only completed in August of this year, is Ten Brinke Bremerhaven Logistics B.V. The park offers total floor space of 29,930 m². Ten Brinke is fully let to Comet Feuerwerk GmbH for a period of seven years.
"The logistics sector is one of the fastest-growing sectors in Germany, which should ensure that demand for space remains consistently high in future, too," says Dr. Frank Billand, Management Board member of Union Investment Real Estate AG.
Strong growth in container handling
The Ten Brinke logistics park is situated within the Login Port, close to the container terminal and with direct access to the German rail network. The A27 motorway is just six kilometers away, with Bremen Airport accessible within 30 minutes by car. The seaport itself is only 800 metres away.
Bremerhaven is the largest city on Germany's North Sea coast. It is Europe's fourth-largest container port and the world leader in automotive shipments. Bremerhaven has an international name as an important location for fish and food processing, as an innovator in the maritime economy and as a centre for polar and oceanic research. The coastal town is also establishing itself as a centre of expertise for building offshore wind turbines. bremenports has achieved robust growth over the past year. Transhipments on inland waterways rose by 14.7% within a year to more than 6.4 million tonnes.
Source: Union Investment