P3 Logistic Parks, a developer and long-term owner of logistics properties in Europe, has completed an asset deal for two modern logistics properties in Ingolstadt and Nuremberg, Germany.
The two properties offer a total of around 30,300 square m2 of leasable space and are located in strategically attractive locations.
Financial details were not disclosed.
One property is part of InterPark, one of the most important business parks in southern Germany, and is located in the immediate vicinity of Ingolstadt and the metropolitan regions of Munich and Nuremberg.
With a total leasable area of around 21,000 m2, the property is fully let. Current tenants include M. Preymesser, a logistics company specialising in transport and warehousing solutions, and a leading German car manufacturer.
The property in Ingolstadt was built in 2016 and stands out at its InterPark location due to its excellent access to the A9 motorway as well as its sustainable ecological aspects, including its connection to a biomass cogeneration plant, InterPark's biological wastewater treatment and fresh water systems.
The second property is located in Schwarzenbruck and is part of the Nuremberg metropolitan region, the second most important city in Bavaria economically after Munich. It has a total leasable area of approximately 9,300 m2 and is also fully leased to a logistics company specialising in national and international transport solutions.
The property in Nuremberg was built in 2019 and impresses with its excellent access to the A9, A3 and A6 freeways, which allows quick access to the surrounding economic centres.
Sönke Kewitz, managing director P3 Logistic Parks Germany, said: 'Bavaria is known to be an extremely attractive real estate market, especially in the logistics sector.
'The ongoing demand for warehouse and logistics space is further fueled by a thriving industry and forward-looking technology companies. At P3, we are proud to invest in this dynamic environment and provide sustainable real estate solutions that support the growth of the logistics sector in southern Germany.'
Both properties play a prominent role for the Bavarian region, which is becoming increasingly attractive due to the limited supply of logistics space and the simultaneous high demand for such space.
P3 was legally supported in the transaction by Clifford Chance and technically by TA Europe.
