AEW has completed the off-market transaction of a plot of land to develop the Hanover City Distribution Centre, Germany, on behalf of LOGISTIS, its specialist pan-European logistics strategy.
The multi-let light industrial and urban logistics scheme located a few kilometres from Hanover city centre will provide around 32,800 sq m (circa 353,000 sq ft) of Grade A space across five buildings.
Ludovic Bernini, fund manager of LOGISTIS at AEW said: “The acquisition of Hanover City DC is an important milestone for LOGISTIS, establishing a presence in a strategic location for industry which is within the major logistics market of northern Germany. This prime development also grows the number of smaller units available to occupiers in LOGISTIS’s portfolio.
“The scheme will be developed on a speculative basis in line with our other City DC projects in Germany and we are confident that Hanover City DC’s attractive location will satisfy the strong occupier demand in this area where there continues to be a lack of good quality supply.”
AEW was advised by GSK Stockmann Rechtsanwälte, Cushman & Wakefield and Nova Ambiente.
