Logistics and industrial developer-investor Verdion has secured the off-market purchase of a site in Berlin for a 92,900 m2 high quality logistics scheme with an end-value of over €85 mln, CEO Michael Hughes told PropertyEU in an interview during the EXPO REAL trade fair.
Logistics and industrial developer-investor Verdion has secured the off-market purchase of a site in Berlin for a 92,900 m2 high quality logistics scheme with an end-value of over €85 mln, CEO Michael Hughes told PropertyEU in an interview during the EXPO REAL trade fair.
The site, to be known as 'Verdion Airpark Berlin', is located within two kilometres of the new Berlin Brandenburg International Airport, which is expected to become one of Europe's busiest airport hubs by 2016.
Verdion developed 46,000 m2 on the adjacent land, known as Air Link Park, in 2012/2013. This scheme was let to occupiers including Paraxel, Dachser and Unitax and the completed investment was sold earlier this year to Segro.
‘We realised that there was a latent demand for logistics assets in this area,’ Michael Hughes, CEO of Verdion told PropertyEU during the EXPO REAL trade fair. Verdion Airpark Berlin will be developed in phases with construction of Phase I encompassing 20,000 m2 expected to start in Q1.
DeMorgan and Co and Cushman & Wakefield acted for Verdion in the transaction.
Verdion is a real estate investor and developer with a specialist focus on logistics warehousing in mainland Europe. The company has offices in Dusseldorf and London. Formerly known as Helios Europe, Verdion was formed in January 2010 by Michael Hughes.
