LaSalle Investment Management has acquired a logistics warehouse in the Grossbeeren freight hub, located at the southern edge of the German capital in the Berlin-Brandenburg metropolitan area. The warehouse has been purchased from DWS Group. Situated in a sought-after and prime industrial location, the Grossbeeren freight centre is one of the largest of its kind in Europe and one of the most successful in Germany, serving as the last-leg delivery hub for the metro area to the more than 80 resident companies based there. The site also benefits from easy access to local public transport and strong highway connections within the country and to Poland. As Germany’s second largest metropolitan area, Berlin-Brandenburg has also experienced robust economic and population growth, offering significant opportunity for future rental growth for logistics assets. Constructed in 2014, the Großbeeren warehouse has a state-of-the-art layout and building specifications, with above-average loading capacity and ample loading dock provision. With a total rental area of c.37,800m², the asset has a long-established and successful letting history. The warehouse will also be eligible to achieve DGNB sustainability certification from the German Sustainable Building Council following its acquisition.
Andreas Wesner, Head of Transactions Northern Continental Europe at LaSalle, said: “We are pleased to be acquiring the Großbeeren logistics warehouse on behalf of our client, further enhancing our exposure to high-quality logistics assets and securing a driver of reliable long-term rental income. The combination of this state-of-the-art asset and its prime location, alongside a buoyant logistics market serving a thriving metropolitan area, marks this acquisition out as a particularly exciting addition to the portfolio.”
Mathias Malzbender, Head of Continental European Separate Accounts at LaSalle, commented: “This is another exciting acquisition in Berlin on behalf of our long-standing client. It perfectly fits the account’s investment strategy of targeting prime logistics assets in Europe and further improves the portfolio’s diversification. The combination of state-of-the-art building specifications with one of the most established and versatile logistic locations in Germany makes this investment particularly appealing. The asset provides long-term stable income as well as embedded upside potential and offers the opportunity to further improve its sustainability profile, which is key to our client and to LaSalle.”