Logistics developer Panattoni Europe has won a contract to build a 120,000 m2 warehouse for ecommerce firm Jago near the west German border town of Hückelhoven.
Logistics developer Panattoni Europe has won a contract to build a 120,000 m2 warehouse for ecommerce firm Jago near the west German border town of Hückelhoven.
Construction work is set to begin this month on the facility, which Panattoni said will be the largest of its kind in Germany.
Panattoni Europe said it is investing a sum ‘in the high double-digit million-euro range’ in the construction of the facility, which will be located in the Industriepark Rurtal commercial zone.
‘This logistics centre is the lighthouse development for the Industriepark Rurtal and at the same time with its dimensions also a lighthouse project for the logistics real estate market in Germany,’ said Fred-Markus Bohne, managing partner of Panattoni Europe.
Due to the size of the complex, construction will take place in four stages, with the first phase scheduled for delivery in March 2016. The other building stages will follow consecutively and the entire project is due to be completed in August 2017.
For Jago, the new facility paves the way for the extension of its international e-commerce business, said CEO and founder Goran Jakovac. ‘The construction of larger, modern logistics facilities is necessary for our expansion course. With Panattoni Europe, we have found the ideal partner for implementation of this project. In future, our customers will benefit from even faster delivery times.'
CBRE acted as adviser to Jago for the tendering procedure and selection of the developer.
