US privately-held developer-investor Hines has joined forces with an unnamed institutional investment partner to acquire 502,800 m2 of land to develop a three-phase best in class logistics facilities park, Hub 65, located in Kolding, Denmark.
In response to continued global demand from occupiers for prime logistics space in the Nordics, the partnership will fund the development of state-of-the-art warehousing in Kolding currently expected to comprise three phases with flexibility to accommodate customer demand. Each stage will be developed to a high specification, targeting a globally recognised ESG certification. The project aims to deliver 129,600 m2 of modern logistics space, providing flexibility for individual tenant requirements.
The project is currently underway, working with the municipality of Kolding to preserve archaeological findings in conjunction with the Museum Sønderjylland. The first stage of the development which will deliver 50,000 m2 of prime logistics space is expected to be ready for occupation in Q2 2025. Full project completion is expected to be during 2028. Stender Innovation is Hines’ development partner.
Hines has significant international experience in logistics, completing €797 mln of logistics transactions in 2022 across Europe, with Hines’ European logistics AUM now standing at €3 bn. In Denmark, Hines has been actively investing in logistics assets such as in the region of Greve in Copenhagen.
James Robson, country head - Nordics, at Hines, commented: ‘We’re looking forward to developing what we believe will be the leading and one of the best-located logistics parks in Denmark.’
