German industrial property developer Log4Real has started construction of its 170,000 m2 industrial and logistics campus near Vienna Airport.
Industrial Campus Vienna East is being built on a 30-hectare site for an estimated total investment of €135 mln. It will be the largest logistics park in Austria and Log4Real's first international venture in a planned multi-billion-euro investment programme in a new class of energy-efficient warehouses across European markets.
The first phase in the construction of warehouses and offices at the Log4Real Industrial Campus Vienna East, in Enzersdorf an der Fischa, is due to be completed in the fourth quarter of 2017 and agreements have been secured with two tenants who are ready to move in.
Christian Bischoff, Log4Real CEO, said: 'Due to its geographical location, Austria has always been at the interface of CEE and western European markets and important pan-European transport links, which makes it very attractive to industrial and logistics developers. So it's no surprise that our first international investment is being made in Vienna. We think this real estate sector has been a laggard in the type of technological innovation in sustainability that is increasingly being employed in office and retail construction and we intend to change that and become a market leader at the same time.'
Industrial Campus Vienna East is part of Log4Real's planned pan-European programme, announced in January, to construct three million m2 of sustainable energy warehouses at key hub locations over the next three years, for multi-tenant occupation and to offer to large institutional investors. All the buildings within the project will be highly energy efficient and offer tenants bespoke energy options.
Log4Real is a developer of light industrial and logistics real estate for multi-tenants and institutional investors within prime investment locations in Europe’s 24 top logistics Hot Spots. The company is majority-owned by Germany's largest real estate developer, the privately owned Zech Group.
