Valad, the European multi-let real estate investment manager, has let 8,900 m² to IN-TIME Transport GmbH at Kolenbeekstieg 1, in Stelle and 2,569 m² to LSA Logistic Co. Packing GmbH at Böttcherhof 2, Hamburg Billbrook.
At Kolenbeekstieg 1, which is held in Valad's European High Income (EHI) fund, IN-TIME Transport's current leases were expiring in September and October, resulting in the logistics and storage company signing one new six-year lease on the combined 8,900 m² of warehouse space.
The asset is a 19,342-m² industrial property separated into two warehouses, located to the south of Hamburg in Stelle. It has excellent transport links to both Hamburg and the rest of Germany via the extensive motorway network in the region.
At Böttcherhof 2, which is held in Valad's V+ Germany fund, the remaining vacant space has been let to LSA Logistic Co. Packing GmbH who, having outgrown their previous premises, which were also in the V+ Germany portfolio, have signed a new five year lease on 2,569 m² of space comprising 1,260 m² of warehouse accommodation and 1,309 m² of office and other space.
Danilo Hunker, Valad's Head of Asset Management in Germany, commented: "To have secured these two leases is a great result for the EHI and V+ Germany funds, particularly at Böttcherhof 2, which is now fully let and where we have succeeded in retaining a tenant customer by offering them alternative premises within the same fund.
"The success in both situations is down to Valad's active approach to asset management where our team focuses on developing strong relationships with tenants. It also demonstrates the continuing demand for industrial space in strong locations like Hamburg."
Valad has seen considerable success this year in the Hamburg area, with lettings at Essener Bogen 7 in Langenhorn, Pinkertweg 8 and Böttcherhof 2.
With a team of 30 in Germany, operating out of offices in Hamburg, Berlin, Düsseldorf, Frankfurt and Munich, Valad manages approximately 1 billion of assets and 1,400 tenants in Germany, on behalf of four of Valad's 15 funds.
Source: Tavistock Communications