Hines, the international real estate firm, has secured a regional logistics company as a new tenant for the Logistics Center in Bingen/Grolsheim, Germany. The logistics firm has agreed to lease around 172,223 ft², with the 645,835 ft² complex now fully leased to long-term tenants.
The Bingen/Grolsheim Logistics Center was acquired in 2013 by Hines on behalf of an institutional investor as part of a strategic entry into the German logistics sector.
Hines continues to view logistics as an asset class with strong growth potential in an economy driven by ever-expanding globalisation and E-commerce, especially in the German market with its central location, well-developed infrastructure and high levels of consumer demand.
JLL Frankfurt acted as broker in the lease transaction with the logistics company.
