In the heart of Stuttgart
CTP is purchasing a hub in the centre of Stuttgart, thus adding 39,000 sqm to its portfolio. The logistics real estate developer has agreed to a sale and lease back transaction with Mahle Behr, which is currently using it as a research and development site. It features 30,000 sqm of office space and a 9,000 sqm storage space only a few minutes away from the city centre.
CTP will work with the city of Stuttgart to rebuild and repurpose existing parts of the site to improve efficiency and sustainability. The finished hub will target customers from diverse industries, from manufacturing to city logistics. Completion of the project is scheduled for 2029.
At the beginning of 2023, CTP announced its intention to invest EUR 300 million in expanding its portfolio in Germany over the coming years. (mk)