HIH Invest Real Estate (HIH Invest) has acquired a logistics property on Hagenower Chaussee in Wittenburg for an open-ended special fund of an institutional investor. The logistics property was realised by property developer Panattoni, with Goldbeck acting as general contractor. The property was completed at the end of 2023. Of the 26,428 square metres of total rental space in two hall sections, 20,992 square metres is warehouse space, 1,792 square metres is mezzanine space, 1,144 square metres is office space and around 2,500 square metres is outdoor space. There are also 100 car parking spaces and 17 lorry parking spaces. There is also an expansion option with around 10,500 square metres of floor space, on which around 11,800 square metres of hall, office and mezzanine space can be built. Gold certification from the German Sustainable Building Council (DGNB) is being sought for the project development. A photovoltaic system is to be installed on the roof areas.
The sole tenant of the two hall sections is the logistics service provider Kühne + Nagel. The lease runs for seven years and includes extension options. “With Kuehne + Nagel, we have been able to gain one of the world’s leading providers of innovative and fully integrated supply chains in sea freight, air freight, land transport and contract logistics as a tenant. Wittenburg is also a location with a future for Kuehne + Nagel. The company is utilising the entire rental space and has already reserved the expansion areas,” says Celin Wircks, Transaction Manager Logistics at HIH Invest.
Christian Kramp, Senior Fund Manager at HIH Invest, adds: “The property is variably customisable. Thanks to the two separate hall sections, each with approx. 10,500 square metres, and the flexible space layout, multi-tenant use is possible without any problems. The tenant benefits from 20 dock levellers, an above-average floor loading capacity of ten tonnes per square metre and a usage permit around the clock, seven days a week.”
The fund property is located in the new “Auf der Heide” industrial estate near Wittenburg, directly on the A24 motorway. The location in Mecklenburg-Western Pomerania is part of the eastern metropolitan region of Hamburg, which is characterised by high demand for logistics space and a simultaneous shortage of space. Around 2.4 million consumers live within a radius of 70 kilometres or around an hour’s drive from Wittenburg. The ports of Hamburg, Rostock, Wismar and Lübeck with their freight and ferry terminals are easily accessible via a low-traffic motorway network.
The Frankfurt-based law firm Ashurst provided legal and tax advice on the purchase. Arcadis was responsible for the technical and ESG audit.
