BentallGreenOak JV launches logistics project in Germany

Global real estate investment manager BentallGreenOak and German project developer thirteen seven have launched the Mittelweser Park project in northern Germany.

A 270,000 m2 plot of land has been acquired to develop 12 units spanning 127,000 m2, with individual units ranging from 3,700 m2 to 80,000 m2, targeting logistics and e-commerce companies.

Construction work began in April 2023 and should be completed in Q3 2024. The building permit was secured in May 2023.

The park will be built to the highest specifications, including to the DGNB Platinum standard, with tenants benefiting from green building features such as a photovoltaic plant, green roof space, rain infiltration and LED lighting.

Jürgen Diehl, managing director, BentallGreenOak, said: ‘This project reflects BGO’s conviction to the German logistics market, further growing BGO’s presence as a large investor in the country. Estorf is attractively located along a high-speed road linking the asset with the key ports of Hamburg and Bremen as well as the dynamic city of Hanover. Furthermore, BGO is proud to develop this park to the highest ESG standards, targeting a DGNB Platinum ESG rating, the GEG 40 standard, and building a 7.5 MW solar plant to minimize carbon emissions. This project has also been financed by a “Green Loan”. We are looking forward to completing this outstanding development and to further expanding our footprint in Germany.’

Marco Eckers, managing partner at thirteen seven, commented: ‘We are thrilled to have secured this excellent location in Industrial Park II in Estorf-Leeseringen, situated within an hours’ drive to the regions of Hanover, Bremen, Bielefeld and Hamburg.’

Mirko Eickhoff, managing partner at thirteen seven, added: ‘Especially in the area of light production – such as medical technology, consumer goods, packaging and finishing – there is high demand for space in greater Hanover as well as in the Nienburg/Walsrode region. Our multi-user commercial property is being built to meet all standards in terms of flexibility, user behaviour and sustainability for a mix of companies and industries and at the same time offers a low rent level in times of rising costs.’

All tenants also receive access to leased truck parking spaces with sanitary facilities, while 50,000 m2 of land will be planted with green and landscaped areas, helping reduce impact on the ecosystem.

The multi-tenant logistics park is situated in the industrial area of Industriegebiet Ost, Brakenhof in Estorf near Nienburg, benefiting from infrastructure links via federal road B215 and highwaysA1, A2, A27 and A7.

BCLP provided BentallGreenOak and thirteen seven with legal advice, while Gleeds will act as project monitor.


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