HIH Invest has acquired a logistics property in Wittenburg, Germany, for one of its open-ended special funds, from an institutional investor.
The property was developed by Panattoni and constructed by general contractor Goldbeck.
Completed in late 2023, the property offers 26,428 m2 of rental space across two halls. This includes 20,992 m2 of warehouse space, 1,792 of mezzanine space, 1,144 m2 of office space, as well as 2,500 m2 of outdoor space.
Additionally, the property on Hagenower Chaussee boasts 100 car parking spaces and 17 truck parking spaces.
An expansion option exists for roughly 10,500 m2 of floor space, allowing for the construction of approximately 11,800 m2 of hall, office, and mezzanine space.
Celin Wircks, transaction manager logistics at HIH Invest, said: ‘With Kuehne + Nagel, we were 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 using the entire rental space and has already reserved the expansion space.’
Christian Kramp, senior fund manager at HIH Invest, added: ‘The property can be variably adapted. Thanks to the two separate hall sections, each with around 10,500 m2, and the flexible floor plan, multi-tenant use is possible without any problems. The tenant benefits from 20 dock levellers, an above-average floor load capacity of ten tonnes per square meter and a usage permit 24 hours a day, seven days a week.’
The project is pursuing Gold certification from the German Sustainable Building Council (DGNB), while a photovoltaic system is planned for installation on the roof areas.
Logistics service provider Kühne + Nagel serves as the sole tenant for both halls, with a lease agreement extending for seven years and containing renewal options.
The property is near the new Auf der Heide commercial zone, directly adjacent to Wittenburg and the A24 motorway. This puts it at the heart of the eastern Hamburg metropolitan region, a booming area experiencing high demand for logistics space.
With a population of 2.4 million consumers within a 70-kilometer radius, the property is ideally situated to serve a large customer base. Additionally, the ports of Hamburg, Rostock, Wismar, and Lübeck are accessible via a low-traffic motorway network.
The Ashurst law firm provided legal and tax advice on the purchase, while Arcadis carried out the technical and ESG review.
