AEW has agreed the off-market acquisition of a c. 27,000m2 land plot to develop a c. 16,200m2 Grade A last-mile logistics facility, located close to Gelsenkirchen city centre in the Rhine-Ruhr region of Germany. The acquisition was made on behalf of AEW’s urban light industrial platform, ULLIS (The Fund).
AEW will partner with developer ecoPARKS to deliver the facility on a speculative basis, targeting high energy efficiency standards and a DGNB Platinum certification, Germany’s market-leading building certification system. The asset offers the potential for two to four units, and will feature a total of 14 loading docks, a LED lighting system, PV solar panels, EV charging for cars and bicycles and heat pumps with cooling capabilities. The building will be delivered by Q3 2025 and is currently available for letting.
Gelsenkirchen is positioned in a central location within the Rhine-Ruhr Valley, offering direct access to the A41 and M40 and M42 motorways, making the area highly suitable for last mile activities servicing not only Gelsenkirchen, but also Essen, Dortmund and Düsseldorf, which are all less than a 30-minute drive away. The asset is also positioned close to the public transport network, with a bus station located 200 metres from the site.
Matthieu Samaran, Investment Director at AEW, said: “This acquisition fits perfectly with ULLIS’s strategy of creating a portfolio of high-quality urban logistics spaces located in Europe’s major metropolitan areas, of which the Rhine-Ruhr Valley in Germany is one. The land we have acquired is situated in a densely populated region of Germany and a hub for activity for a number of different industries. The asset is also within a 30-minute catchment area of c. 1.7 million inhabitants, making this location ideally suited for last mile distribution activities. Take up in the region remains robust and in line with the long-term average, and we are confident that the space will appeal to a broad range of logistic occupiers.”
Written by Leon Goldwater for Europe Real Estate.
Image source - AEW.
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