BGO completes 127,000 sq. m state-of-the-art logistics park, Mittelweser Park, in the Hanover area, with pre-letting commitment from ID Logistics

Hanover, Germany (September 26, 2024) - BGO, a leading global real estate investment management company, and thirteen seven, a German project developer based in Aachen, celebrated the completion of Mittelweser Park on September 19, 2024. The 127,000 m² logistics scheme in Estorf near Nienburg an der Weser is currently the largest logistics property in northern Germany, establishing its long-term importance to Germany’s logistics sector. The scheme, which includes high sustainability performance features and credentials, has been partially pre-leased to ID Logistics, which will operate the asset for their cosmetics e-commerce business.

"We will have the opportunity to attract large-scale logistics businesses in a modern, state-of-the-art and environmentally high performing facility, with immediate availability. With our investment in Mittelweser Park, we are providing e-commerce companies, logistics companies, and freight forwarders with high-quality and flexible space at an attractive price point," said Jürgen Diehl, Managing Director, BGO.

"I am pleased that with the Mittelweser Park, a new, efficient logistics location is being created in the heart of Lower Saxony," commented Olaf Lies, Minister of Economic Affairs of Lower Saxony. "The opening sends an important signal to the logistics industry in Lower Saxony and its employees and shows once again that Lower Saxony is a strategic logistics node. With its strategic central location, space that meets requirements, and a well-networked transport infrastructure, we offer the industry ideal conditions and thus demonstrate our high level of logistics expertise. The opening of the Mittelweser Park not only creates incentives for companies to settle in Lower Saxony, but also creates new, good jobs for the region."

"I am pleased about the opportunities that the Mittelweser Park will open up for the region and I am excited about the effects it will have on the local economy," emphasized Detlev Kohlmeier, Nienburg's district administrator.

"Only a short period of time has passed from the first discussions to today's completion. This shows the common intention of all actors involved to collaborate in order to accomplish this. ID Logistics, an important international logistics operator, has already leased space at the park as the first tenant, creating over 70 jobs from all segments such as administration, IT, and logistics" said Jens Beckmeyer, mayor of the joint municipality of Mittelweser. He also shared a message on behalf of the mayor of Estorf, Jens Lange, conveying: “the municipality of Estorf congratulates warmly on this completion and is happy about a good cooperation with its new neighbors".

"We have put the Mittelweser Park on our German and international logistics map. It enables us to implement and operate a state-of-the-art and sustainably built scheme for e-commerce cosmetics in the Hanover region with around 270 employees at its peak. The availability of qualified employees is good, we have already concluded 70 contracts for permanent employees in addition to temporary staff, and talks with other potential employees are in full swing." explained Robin Otto, CEO of ID Logistics Germany.

"The attractive rent level makes Mittelweser Park particularly interesting for tenders, as it can also compete with the excess space which may be offered for sub-let at attractive terms by other operators. From our point of view, the structural and economic advantages of the Mittelweser Park form a good package and also a good connection to the regions of Hanover and Bremen," said Mirko Eickhoff, Managing Director of thirteen seven GmbH.

Just in time for the completion of the Mittelweser Park, thirteen seven has exclusively mandated the two experienced international marketing partners, JLL, and BNP Paribas Real Estate, for the marketing of the scheme. Redhead GmbH Management Real Estate was commissioned with the property management.

About BGO

BGO is a leading global real estate investment advisor and a globally recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $83 billion in assets under management (as of June 30, 2024) and has expertise in asset management of real estate in the office, industrial, residential, retail, and hospitality segments around the world. BGO operates offices in 27 cities in thirteen countries and has deep local knowledge, experience, and extensive networks in the regions where the firm invests and manages real estate investments in primary, secondary and co-investment markets on behalf of its clients. BGO is part of SLC Management, which is responsible for the management of Sun Life's institutional, alternative, and traditional assets.

In Europe, BGO is a leading investment manager with more than 50 specialists and USD 10.5 billion in assets under management (AUM) in debt and equity. The strategies range from core to value-add to development, the operational implementation of which is guaranteed in-house. Since 2014, the company has acquired, is currently building, or developing more than 200 logistics properties in Europe with an area of over 6.1 million m² (66 million square feet).

The assets under management presented above include real estate equity and mortgage investments managed by the BGO group of companies and its affiliates and, as of the first quarter of 2021, include certain uncalled capital commitments for capital with a management mandate until they have legally expired and exclude certain uncalled capital commitments where the investor has full control over the investment.

For more information, please visit: https://www.bgo.com

About thirteen seven

thirteen seven GmbH is an owner-managed real estate developer with a focus on industry and logistics. The company is currently building more than 250,000 m² of modern warehouses throughout Germany.

Founded in 2021 by managing directors Mirko Eickhoff and Marco Eckers, the company has a strong focus on its own ecosystem, which enables the acquisition of space outside the market as well as a close connection with its tenants and service providers.

For more information, please visit: https://thirteenseven.de

Press contact
Silke Westermann, SH/Communication
Mobile: +49 173 29 20 641
s.westermann@shcommunication.de