LaSalle Investment Management has acquired the logistics property ”The Plus” in Bielefeld, Germany, for the French public service additional pension scheme (ERAFP). The vendor is Real IS AG. Completed in 2008 and expanded in 2011, the property comprises a total area of around 31,200m². It is divided into approximately 27,200m² of state-of-the-art warehouse and handling space, with a total cross-docking capacity of 10,000m², as well as 4,000m² of office space.
Located in the east of Bielefeld, North Rhine-Westphalia, the warehouse is leased on a long-term basis to the transport and logistics company Kuhne + Nagel. It benefits from excellent connections to the A2 freeway with surrounding cities including Hanover and Kassel. As well as this, the Ruhr area and the Dutch border can be reached in less than 120 minutes by car. Due to its strategically attractive location, the surrounding business park is home to numerous international companies from the industrial, logistics, wholesale, retail and service sectors.
Mathias Malzbender, Fund Director & Head of Separate Accounts Continental Europe at LaSalle, commented: “We are delighted to have overseen the successful acquisition of this high-quality and well-situated property for our investor in a region which has experienced strong employment growth recently, as well as the significant development of this business park. ‘The Plus’ is perfectly aligned with the portfolio’s investment strategy and represents the high quality and reliability of this separate account to secure long-term and sustainable returns.”
