When Munich goes Hamburg
The Munich-based logistics services provider Group 7 is investing EUR 36 million in a new construction project on a 40,000 sqm site in Hamburg. Located in Hamburg Billbrook, the property is 13 km away from the port of Hamburg, 16 km from the airport and can be reached from the A1 motorway in a few minutes.
Building is scheduled to commence at the beginning of 2021. The logistics real estate is estimated to remain operable for 50 years. With 26,000 sqm, the planned new building is one of the two largest logistics projects to locate to Hamburg over the last 15 months, BNP Paribas Real Estate reports.
"After Munich, Neuss and Frankfurt, Hamburg is now the fourth most important logistics location of all our nine branches across Germany," says Group 7 managing director Günther Jocher, who intends to hand over the operative business to his children Julia and Daniel within the next ten years. (cd)