New development purchase in Erlensee, Germany for €33.3 million
The Company exchanged contracts in June 2018 to acquire this new development in a modern logistics hub located in Erlensee Langendiebach, Frankfurt from regional developer Ferdinand Fäth.
The development, completed in September 2018, was finally signed across in March 2019 and consists of two modern multi-let logistics buildings. It is located within the emerging logistics and distribution hub of Erlensee, on the outskirts of Frankfurt in the prosperous Rhine/Main region, the third largest metropolitan region in Germany. Tenants include among others the global engineering and industrial gases company Linde, packaging solutions provider DS Smith and Compass Group subsidiary and fruit and vegetable supplier MSG Frucht.
The redevelopment of this former US air base is proceeding at pace. The location’s quality has already been recognised by a number of major companies including DS Smith, Dachser Logistics and Wilhelm Brandenburg, the largest meat processing company in the region, with plans for a major facility servicing REWE the German supermarket group. It is expected to become one of the major logistics hubs in the region benefitting from an excellent road infrastructure serviced by the A45 and A66 motorways in the north east of Frankfurt and in the south by the A3 motorway, as well as having direct access to the Frankfurt metropolitan area.
This development fits well with the Company’s investment strategy given the modern and flexible specifications of the buildings and the central location. The buildings comprise a total lettable area of approximately 26,395 square metres featuring high quality construction and institutional grade specifications including a total of 50 loading doors.