Valad Europe, the multi-let real estate investment manager, announces that Greiwing, the leading European silo logistics company, has signed a lease on 13,300 m² of warehouse and 400 m² of office space at Hochstraße 150152, Duisburg in Germany.
The warehouse space will be refurbished by Valad.
The agreement includes a comprehensive 1.5 million investment by Valad to refurbish the warehouse space, tailoring it to meet the modern day requirements of Greiwing's specialist logistics business. Both Valad and Greiwing were advised by Realogis, the specialist real estate consulting firm.
Greiwing will take advantage of the newly refurbished space at Hochstraße 150152 and the buildings' strategically important location, in the industrial zone of Duisburg, to grow its bulk logistics operations in the Lower Rhein-Ruhr area.
Klaus Beckonert, CEO of Greiwing, said: "Following a new contract win, we needed a warehouse and logistics hub capable of providing a modern delivery solution in the Duisburg region.
"It is thanks to the swift action by Valad and Realogis in identifying a building with the potential to meet our specific needs and committing to the refurbishment of the building, that we can now look forward to starting operations at the new facility in August."
Danilo Hunker, Valad Europe's Head of Asset Management in Germany, commented: "This is a great example of how Valad has taken a strategic decision to add value, by investing capital in an existing building in order to meet the requirements of a long term tenant. Structural alteration works are underway, with the wharf refurbishment commencing soon, upgrading its capacity to receive 40 tonne trucks, rather than its current capacity limit of 7.5 tonne vehicles."
Valad Europe has a team of 30 in Germany, operating out of offices in Düsseldorf, Hamburg, Frankfurt, Berlin and Munich, Valad manages approximately 1 billion of assets and 800 tenants, on behalf of four of its 13 funds.