Logistics property investor-developer Verdion has secured a pre-let agreement to Siemens for a logistics and light production facility in Chemnitz, eastern Germany.
Logistics property investor-developer Verdion has secured a pre-let agreement to Siemens for a logistics and light production facility in Chemnitz, eastern Germany.
The scheme has an end value of €30 mln. The project will be majority financed by Healthcare Of Ontario Pension Plan (HOOPP).
Verdion has acquired a 21 acre (8.5 hectare) site to develop 35,000 m2 of warehouse and light production accommodation for the multinational engineering and electronics conglomerate.
Siemens already operates systems engineering facilities at four locations in Chemnitz. This new development will allow the group to bring some of the smaller production units together under one roof.
Construction will begin in October 2013 and delivery is scheduled for Q3 2014.
'To be selected to design, finance and develop this important facility for such a prestigious company as Siemens reinforces Verdion’s expertise and strength in the European logistics market,' said André Banschus, Verdion’s Country Manager: Germany.
BNP Paribas Real Estate represented Siemens and HOOPP was advised by Cushman & Wakefield Corporate Finance.
