ING REIM sells logistics site in Frankfurt to Rewe

ING Real Estate Investment Management has sold the bulk of the MainLog Gehespitz logistics park near Frankfurt Airport to Cologne-based Rewe Group. Financial details were not disclosed.

The sale encompasses 230,000 m² of land which Rewe will develop to create a 60,000 m² national distribution centre for food and non-food products. When fully operational, the site will create more than 300 jobs. It is scheduled to open in early 2013.

ING REIM has developed more than 80,000 m² on the site since 2009.

'We are busy with the preparation of the remaining land portion allowing 20,000 m² of lettable area in the Western part of the scheme, which will be built for logistics and commercial services of any kind,' said George Stark, senior project manager at ING REIM.