HIH Invest Real Estate has acquired a logistics property located on Hansestrasse in the town of Sittensen in Lower Saxony for an open-ended special fund owned by an institutional investor. Financial details were not disclosed. The modern logistics asset was constructed by Panattoni, occupies a plot of about 40,000 square metre, and provides a total lettable area of about 24,000 square metre, complemented by 85 parking spots.
The logistics property was completed in March. Its sole tenant is Yusen Logistics, a German subsidiary of a globally active logistics service provider. The lease was signed for a ten-year term, starting with the completion.
The building’s structural design permits the rooftop installation of a photovoltaic system. A lease agreement for the roof surfaces has already been signed.
The driving time to Hamburg is about 45 minutes, and about an hour to Bremen. The ports of Bremerhaven and Wilhelmshaven are also within reach, each being a 90-minute drive away.
Source: propertyeu.info on the 6th of June 2023
https://propertyeu.info/Nieuws/HIH-Invest-snaps-up-German-logistics-asset-for-open-ended-fund/d51770b3-07d7-4b69-b5f5-eb219a85e62b