Real estate investor and developer Nrep, via its logistics development and management business Logicenters, and its joint venture partner evolutiq have acquired a 23,000m2 logistics site in the Stuttgart metropolitan region, Germany. Located in a highly attractive area within the Kornwestheim commercial district, the site is a prime location for a modern logistics facility. Closing of the transaction will take place in 2025.
The new 15,000m2 logistics hub will consist of a 13,000m2 flexible production and storage space, alongside offices and communal areas. The building will be developed in accordance with best-in-class ESG criteria and is targeting DGNB Gold certification. Sustainable features will include photovoltaics, efficient heat pumps and green roofs and facades.
The site will become part of the joint venture’s existing portfolio of four sites and is due for completion by early 2027.
Wolfgang Kodel, Head of Germany, Nrep, said: “We are delighted to announce yet another successful project in a sought-after location which suits a deep tenant pool. Logistics continues to play a pivotal role in our strategic approach, as we deploy our proven knowledge and track record from this mature asset class in Germany. This project strengthens our portfolio and reaffirms our commitment to building a sustainable, modern logistics portfolio in the most attractive locations across Germany.”
Nicolas Rudzki, Managing Director of evolutiq GmbH, added: "Kornwestheim is an excellent and strategically advantageous location in the Stuttgart metropolitan region. The swift and efficient execution of the transaction was only possible through professional collaboration with our partner Nrep and the sellers, as well as constructive and cooperative dialogue with the city’s representatives. We are delighted to expand our steadily growing pipeline with this attractive project."
Martin Ohly, Head of Logicenters, Germany said: “We are excited to start another great project with evolutiq. This project highlights Logicenters’ dedication to cutting-edge logistics properties that meet the needs of businesses in the region.”
Martina Koch-Hassdenteufel, Mayor of Kornwestheim, commented: "We are delighted that a new, sustainable complex is being built in our commercial area north, offering optimal use for various businesses and industries. This new development is a flagship project for the commercial area, showcasing how commercial districts can be revitalized and modernized, even with limited space for development. We wish the project partners every success and hope that businesses in Kornwestheim will also benefit from this new, modern storage and production facility."
The project will leverage the combined development and asset management expertise of evolutiq and Logicenters and is reflective of their commitment to advancing future-fit logistics solutions.
The property offers excellent connectivity to the A81 and A8 highways, as well as proximity to Stuttgart container terminal and the Stuttgart interchange. The outstanding surrounding infrastructure provides quick access to the Stuttgart metropolitan area and nearby economic centres, making the location particularly appealing for companies in the production, light industrial and logistics sectors.
Image source - Nrep.
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