Pan-European industrial property group VGP has acquired three new development land plots in Germany as it pursues its logistic park expansion strategy. The vendors and sales prices were not disclosed.
Sites were acquired in Berlin West Wustermark, Göttingen and Wetzlar with a potential total lettable area of 148,000 m2.
VGP said it would plan and construct a 72,000 m2 large industrial park on the 13.5 ha Wustermark plot, located in Brandenburg, near to Berlin.
The 8 ha site in Gottingen will be transformed with a 40,000 m2 industrial and logistics park.
The third site, according to VGP, is located in Wetzlar, and comprises 6.8 ha. A VGP Park will be developed here consisting of two halls with a total lettable area of 36,600 m2.
VGP operates logistics and industrial parks in Germany, the Czech Republic, Latvia, Estonia, Slovakia, Hungary and Romania. Since 2015, it has also been active in the Spanish market.
