Realogis buys e-commerce depot on Berlin ring road

Munich-based Realogis Real Estate has acquired a refurbished logistics property in Berlin from Dutch retail specialist Redevco.

The property in Marquardt, on the German capital’s orbital motorway, was built in the 1990s and fully refurbished this year. It provides almost 14,300 m2 of warehouse and office space and is fully let on a long-term basis to a large discounter selling garden furniture online.

The investment volume was not reported but it is believed Realogis Real Estate paid above €10 mln, bringing its spend this month for its logistics funds to more than €40 mln.

Realogis Real Estate said the 48,500 m2 site provided development potential for e-commerce companies, manufacturers and logistics firms in the Berlin metropolitan region.

´Following the recently acquired new builds in Stuttgart and Ulm this investment is an ideal addition to the portfolio of our logistics fund, the strategy of which is to focus on different property classes,´ said managing director Bodo Hollung.

PropertyEU has established that Realogis real Estate invested some €30 mln in that transaction.