Due to our excellent access to the market, it was possible to acquire this asset in an area which is becoming more attractive for logistics in Germany. We are extremely satisfied to know this second, high-quality asset will be a part of the portfolio for the Fund.
The 17,200 sq m (182,986 sq ft) logistics development is located in the industrial area of Benningen, near Ludwigsburg, in the north of Stuttgart. Upon completion, scheduled in Q4 2018, the premium development will comprise 15,300 sq m (164,688 sq ft) of distribution space with a 1,200 sq m (12,917 sq ft) mezzanine level and 700 sq m (7,535 sq ft) of office space.
