Pan-European property investor, developer and asset manager Kajima has bought a greenfield site in Magdeburg, Germany, for an undisclosed price, for a new logistics development.
The company intends to build a 32,000 sq m (347,000 sq ft) high specification, sustainable logistics building on the site, featuring solar panels on the roof, energy-efficient LED lighting, fossil-free heating via heat pumps, green roofs, bicycle parking, EV charging station and a dedicated wellbeing area. Kajima is targeting DGNB Gold certification from the German Sustainable Building Council for the development.
Lucas Kester, investment manager at Kajima, said: “Magdeburg represents another strategic acquisition that aims to introduce more high-quality, sustainable space in a market facing limited supply and where occupiers have increasingly high ESG standards. The Magdeburg area alone faces a significant shortage of modern logistics space, and the burgeoning German market presents a significant opportunity for further expansion.
“We remain active in seeking strategic land acquisitions where there is an opportunity to increase our footprint in the markets where we already operate and across Western Europe.”
