LIP Invest, the Munich-based investment specialist for logistics real estate, is acquiring a multi-user logistics centre in Gengenbach’s Kinzigpark off-market as part of a forward deal for its "LIP REAL ESTATE INVESTMENT FUND - LOGISTICS GERMANY II" fund.
LIP is investing over €50m in the state-of-the-art new build. Project developer and seller Fiege will use the logistics centre itself – as was recently the case with the property acquired by LIP near Cologne - and rent it on a long-term basis.
“With the purchase of this multi-user centre in Gengenbach we have completed the fund’s location allocation and are also now represented in the all key logistics regions with this our second fund” says Bodo Hollung, shareholder and managing director of LIP Invest.
As a professional in tyre logistics and one of Europe's leading contract logistics providers, Fiege will operate on behalf of one of the world's largest tyre manufacturers from its Gengenbach location after completion of the property in summer 2021.
Throughout the purchase process, LIP received legal support from REIUS, tax advice from Ebner Stolz, technical advice from Dress & Sommer as well as support from EnviroSustain in the ESG analysis. The construction work will be carried out by the general contractor Bremer.
The construction is made up of four hall sections with a total rental space of almost 42,000 square metres. To allow sustainable usage, the building will be equipped with 40 loading gates with dock levellers and several ground-level gates. The floor loading capacity is 6 tonnes.
The sustainability of the fittings was especially important during the planning process. Only top-quality LED lighting will be used in the building and providing for appropriate charging facilities for electric vehicles has also been taken into account in the planning. Thanks to an energy concept with integrated monitoring system, the costs of running the building can be optimised. A photovoltaic system is also being installed on the roof of the building. The tenant can use the solar power directly.
To minimise the impact on the environment, the property will also boast a 1,300 square metre orchard with insect hotels, hedges and 150 native trees. “The property is attractive not only due to its location, but also due to its high quality and state-of-the-art construction. It meets all modern requirements and offers a high degree of third-party usability. The fact that the hall can easily be sub-divided means that we are also extremely flexible in possible subsequent letting," says Sebastian Betz, authorised signatory of LIP Invest and responsible for all fund purchases.
The property is located in Gengenbach, southeast of Offenburg. The proximity to France and Switzerland makes the Upper Rhine logistics region particularly attractive for cross-border logistics services. Thanks to direct access to the markets of neighbouring countries, the location is very well suited for southern European distribution. Metropolitan areas in southern Germany can also be served very well from the location. The Emons freight forwarding company and MZW-Metalltechnik are already based in Kinzigpark.