AXA Investment Managers - Real Assets (AXA IMRA) has acquired a prime logistics freehold site in Leipzig which can accommodate the development of up to 113,000 m2 of Grade A logistics space across two buildings.
Financial details were not disclosed.
The site has been purchased on behalf of the Logistics Development Club and the development management will be carried out by Baytree Logistics Properties.
According to AXA IMRA, the site is strategically located opposite a major car production plant, which includes electric cars in the production portfolio, while Leipzig Airport is 16 km away.
The buildings can be configured to serve the automotive logistics sector or for general logistics use and will be designed to achieve a BREEAM 'very good' rating.
