CBRE Investment Management, acting on behalf of Zurich Insurance Group Germany, has acquired the 39,110m² Log Plaza logistics park in Grossbeeren, Germany. The seller is a wholly-owned subsidiary of OSMAB Holding AG.
Log Plaza is located on a 75,250m² plot at An der Anhalter Bahn 2. It comprises four units in two buildings with 37,315m² of logistics and 1,796m² of office and communal spaces. It also offers 64 parking lots for cars and five for lorries. Tenants include shipping company Weidler Spedition, pharma logistics provider Unitax-Pharmalogistik and overnight shipping company Innight Express Germany.
The park was built in 2018 and 2019 by developer ALCARO Invest and was sustainably designed with excellent energy efficiency features and charging stations for e-bikes and electric cars. A photovoltaic facility for on-site electricity production will be added to the roof. The logistics park is located next to the GVZ Grossbeeren freight village for cargo handling on-site and connected to federal highway 101, which links to Berlin’s city centre and to the A10 ring motorway around the German capital. With a bus station only 300 metres from the site, it also offers excellent public transports connections.
Riccardo Cobianchi, Head of Real Estate, Zurich Insurance Group Germany commented: “The acquisition of Log Plaza marks Zurich's fourth investment in logistics in Europe and the second one in Germany. We expect the sector to outperform over the next few years driven by structural tailwinds, and, as part of our real estate investment strategy, we will continue to target properties in the logistics sector with strong sustainability credentials in core markets across Europe.”
“We are delighted to have partnered with Zurich on their second logistics acquisition near Berlin. New supply so close to the capital is extremely limited so that tenant demand for modern logistics properties such as Log Plaza continues to soar,” added Sebastian Ehrhardt, Head of Transactions DACH, CBRE Investment Management.
