Blackbrook, a European logistics real estate investor, has expanded its portfolio in Germany with a sale-leaseback transaction in the central German Thuringia region for an undisclosed amount.
The site includes substantial expansion land upon which Blackbrook will speculatively develop a Class A logistics facility.
A modern 31,000 m2 Class A logistics facility already sits on the 97,000 m2 site, built in 2018 by Goldbeck. An additional 28,000 m2 Class A logistics facility will be developed on the site, targeting DGNB Platinum certification upon completion, anticipated in Q2 2025. The entire site will provide 59,000 m2 of best-in-class logistics facilities for single or multiple occupier use.
Nvelop Real Estate will act as development manager for the project.
Jon Strang, managing director of Blackbrook said, 'Thuringia’s central position within Germany, combined with competitive occupational costs, makes it a highly attractive choice for occupiers who wish to benefit from excellent transport links providing access to the entire German population. It is an ideal location for central distribution centres, and we are very excited to bring a newly developed facility to meet the growing demand for industrial space in Germany.'
Arvi Luoma, co-founder and CEO of Blackbrook added, 'Working with top-tier industry peers is central to our growth strategy across Europe. With that in mind, we’re pleased to deepen our relationship with Nvelop following our prior investment into a 24,000 m2 logistics development in the Rhine-Neckar region. This transaction builds upon our existing portfolio of highest-quality logistics facilities across Europe, and particularly in core markets such as Germany. We continue to focus on delivering best-in-class assets to address the shortage of future-proof supply chain infrastructure across Europe.'
