Independent logistics specialist RLI Investors said that its RLI Logistics Fund - Germany II has committed to forward fund a logistics development in the Koppelknechtsdamm commercial area in Garbsen, part of the Hanover logistics region in Germany.
The asset will provide 16,300 m2 of space and is already fully let to HAASE Hausgerätelogistik well before its scheduled completion in the fourth quarter of 2020. The vendor and developer of the project is Panattoni.
The new property, to be constructed on a 30,700 m2 site directly opposite the corporate headquarters, will be operated as a central warehouse for household appliances.
Peter Wenzel, managing director of RLI Investors said: 'We are delighted that, following the development project in Ludwigsfelde, we are once again able to realise a prime logistics property in an established logistics region with our experienced partner Panattoni. The quality of the property, the long-term full letting to a first class tenant and the outstanding location will have a positive influence on the portfolio of the RLI Logistics Fund Germany II.'
