LIP Invest, the Munich-based investment specialist for logistics real estate, has just acquired the newly completed mega logistics centre in the Bavarian town Obernburg, Erlenbacherstrasse, for its open Real Estate Special AIF “LIP REAL ESTATE INVESTMENT FUND – LOGISTICS GERMANY II” launched in 2019. With an investment volume of around €100m, this off-market deal is one of the three biggest deals in the German logistics real estate market in the first half of this year. LIP received legal advice on the purchase from LPA, fiscal advice from EbnerStolz and technical advice from REC.
Julia Olivia Oechsler
The property was developed and sold by Mainsite Logistik Nord, who will also rent three sections of the warehouse, around 30,000 square metres, for its own logistics purposes. Mainsite operates the Industrie Center Obernburg (ICO). The industrial park, located directly opposite the logistics centre, is Europe's largest synthetic fibre production site with an area of 176 hectares and 3,000 employees. Other tenants include the companies syncreon and Geis Global Logistics. A warehouse section of 10,000 square metres and a warehouse with 2,400 square metres for the storage of hazardous goods are still available for logistics companies to rent at short notice.
The new logistics complex in Obernburg is made up of around 70,500 square metres of warehouse space and a mezzanine level of around 6,500 square metres office and social areas, as well as shelf storage capacity. The logistics halls have capacity for over 200,000 shelved storage units.
The eight sections of the warehouse are equipped with 76 loading bays in total with levellers to enable variable loading and unloading. 25,000 square metres of paved outdoor area serve as storage and manoeuvring space, and with 19 truck and 136 car parking spaces, there is also sufficient parking on site. The warehouse height is 10.60 metres, while the floor is designed for a payload of seven tonnes per square metre. In addition to a comprehensive security system with access control and barrier entry management, the site security is also supervised by the Mainsite plant security service and the ICO plant fire brigade.
Climate protection and sustainability were particularly important in the construction of the new mega logistics centre. A sustainable design was chosen for this new building, which was project managed by Drees and Sommer and constructed by Dreßler Bau, and the choice of a so-called “green roof” – the second largest in Germany – highlights this approach.
The green roof, consisting of a 10-centimetre-thick substrate covering, has both sandy and stony areas and reflects the natural diversity of plants and soil types according to the climatic conditions on the Lower Main. Layers of deadwood offer birds and insects a new habitat and space to nest. The additional costs are offset by an increased expected life-span of the roof. There are also considerable environmental effects and savings in operating costs.
“On hot days, the micro-biotope on the roof of the warehouse acts as a shield against the heat and on cold days, offers additional insulation. Furthermore, the roof serves as a rain retention surface, which means that around 60 percent of the precipitation is stored in the substrate layer and the remaining 40 percent seeps away in an additional integrated drain in the subsoil," says Alexander Eisfeld, Head of Technical Asset Management at LIP.
A modern 200 lux LED lighting system with a smart control system leads to energy saving of up to 75 percent in comparison to other systems. In an effort to further protect the environment during the construction phase, companies from the Bavarian Lower Main region were used for all trades and building materials.
The logistics centre is located on the Bavarian side of the Frankfurt/Rhine-Main economic region about 20 kilometres south of Aschaffenburg and about 50 kilometres outside Frankfurt. Frankfurt Airport can be reached in only 40 minutes via a four-lane feeder road on the A3. The location is also connected via a railway station with an industrial siding and a shipping pier on the Main, making it particularly suitable for nationwide and international distribution in addition to regional distribution.
"With this purchase, and four further properties currently in the acquisition process, our LIP Logistics Fund Germany II, which was launched in 2019, is now fully invested at around €425m, much faster than we had expected. Despite limited travel opportunities, we were able to secure attractive new buildings even during the Corona crisis," says Bodo Hollung, partner and managing director of LIP Invest, pleased with the positive development of the past few years. "Our recently launched LIP Logistics Fund Germany III has also got off to a successful start with initial commitments and acquisitions," concludes Hollung.