Global real estate giant Tishman Speyer has inked a deal for two logistics sites in Düsseldorf, Germany.
The properties have been acquired from May & Co in an off-market deal. The sites sit at the heart of the RhineRuhr region, which includes Germany’s fourth largest airport.
The properties are located in Düsseldorf Heerdt and Ratingen within the Düsseldorf region and have a total plot area of 60,000 m2. Both sites are approximately five minutes away from the nearest motorway.
As a result of the deal, Tishman Speyer plans to develop two buildings with a total of approximately 36,000 m2 state-of-the-art, ESG-compliant, distribution space.
Both sites are fully permitted, and development is anticipated to commence before the end of 2024. Construction is expected to be completed by the end of 2025.
This is Tishman Speyer’s second industrial acquisition in Europe, adding to its growing global portfolio. This latest investment follows the April acquisition of the prime Samson AG site in Frankfurt, where Tishman Speyer will develop a mixed-use data centre and urban industrial hub.
Nils Skornicka, head of acquisitions Germany & Nordics said: 'We are delighted to have secured these two exciting projects, the latest in our growing industrial portfolio. Utilising our deep development expertise, we will deliver much needed, Class A, modern logistics facilities that meet the pent-up demand from customers.'
