Trammell Crow Company (TCC) has secured the building permit on its first site in Germany and completed the acquisition of its second, both in Neuruppin, Brandenburg, near Berlin.
Having entered an exclusive agreement with Entwicklungsgesellschaft Temnitz (EGT Temnitzpark) earlier this year to acquire Neuruppin BF36, a greenfield site of 132,185 m2, TCC has now completed the transaction. It plans to develop a 51,624 m2 GLA facility with the ability to accommodate multiple occupiers, with construction commencing in Q1 2023.
Completion of the deal coincides with TCC securing the building permit on its first German site, the neighbouring Neuruppin BF33. This 80,159 m2 site will be transformed into a 41,173 m2 GLA logistics warehouse to accommodate multiple occupiers, with construction scheduled to begin this month and complete in Q3 2023.
Having launched in Europe in 2021, US-based global developer TCC now has teams operating out of Hamburg, Frankfurt, Vienna, London, Paris, Barcelona and Prague, and in addition to its German developments has acquired sites in the UK, Spain and the Czech Republic.
Mario Sander, head of Germany and Austria Logistics at Trammell Crow Company, said: ‘With the building permit secured on our first site and completion on the acquisition of our second, Trammell Crow Company’s rapid growth in Germany continues at pace.’
RE develop GmbH advised on the transaction on behalf of Trammell Crow Company.