LIP Invest Launches Fourth Logistics Real Estate Fund
Aug 31, 2021 at 5:44 PMBerger Group Moves to New Building in Korntal-Münchingen
Aug 31, 2021 at 6:22 PMPanattoni, the leading project developer for industrial and logistics properties in Europe, handed over the completed build-to-suit extension building to GLX Global Logistics Services GmbH in Grünheide, Brandenburg, on August 18, 2021. The extension of the existing facilities of 17,000 sqm includes a usable area of approximately 4,300 sqm, of which 4,188 sqm are hall space and 104 sqm are office and social space.
(Hamburg/Grünheide) In addition to the approximately 4,300 m2 of usable space, the outdoor areas of the logistics property from Panattoni in Grünheide also include 30 parking spaces. The property, which has direct access to the A 10 federal motorway, was developed after receiving DGNB Gold certification.
The order for the extension of the existing facility was given by the owner PGIM Real Estate, the real estate investment division of the US$1.5 trillion global investment manager PGIM, to Panattoni. Panattoni had already been acting as the property manager for the existing property. The new building, which was planned according to the specifications of the existing building, started at the end of January 2021. Panattoni will also take over property management for the extension building.
Range of logistics services
Dominik Brambring, Head of Germany and the Netherlands at PGIM Real Estate, comments: “The property is part of a portfolio that we acquired in 2020 as part of our European core strategy. We see a lot of potential in the modernization of the property. Together with our partner Panattoni, the extension of the site was completed on time and within budget.”
The tenant GLX Global Logistics Services GmbH, headquartered in Berlin, offers a range of logistics services, such as managing the transport chain and handling all functions of warehouse logistics, employing 200 staff at 13 locations in Germany. In Grünheide, the company provides logistics services for Knorr-Bremse Systeme für Nutzfahrzeuge GmbH, a subsidiary of the world’s leading manufacturer of braking systems for rail and commercial vehicles, Knorr-Bremse, as well as for Bally Wulff Games und Entertainment GmbH, a manufacturer of gaming machines.
Panattoni also takes over property management
Roland Becker, Managing Director of GLX Global Logistics Services GmbH, comments on the cooperation: “We have already come to know and appreciate Panattoni as a competent partner through our collaboration in property management. The construction of the extension building also went smoothly. With it, we are responding to the ongoing demand for our services at the Grünheide location.”
Fred-Markus Bohne, Managing Partner at Panattoni, comments on the handover as follows: “The now completed project for GLX Global Logistics Services and PGIM Real Estate is a testament to the trust that both partners place in us. We look forward to continuing to support the industrial property as property managers even after the completion of the building.”
Photo: © Panattoni
