Delta Development's German property unit Delta Immobilienentwicklung has purchased the Theodorpark Logistics Centre development in Germany from the global developer AMB Property Corporation for an undisclosed sum.
Delta Development's German property unit Delta Immobilienentwicklung has purchased the Theodorpark Logistics Centre development in Germany from the global developer AMB Property Corporation for an undisclosed sum.
The project, to be developed in an industrial area north of Dusseldorf, will comprise 12,000 m2 for logistics use, 1,250 for offices, and 50 parking spaces. Completion is scheduled for the second quarter of 2007, the company said in a press release.
AMB Property Corporation is a leading company in the investment, management and development of logistics property, and focuses on the great distribution in North America, Europe and Asia. Its portfolio includes about 11.6 million m2 of land and 1,109 buildings spread across 11 countries. Its growth strategy mainly focuses on locations near airports and harbours.
Delta Immobilienentwicklung specialises in the development of logistics property in Germany. It is part of Delta Development Group, which was founded in Pennsylvania, US, in 1988. The American group has also units in France and the Netherlands.