Northern Germany: First tenant signed in big box logistics development project "Mittelweser Park"
- BGO concludes lease agreement with ID Logistics
- First construction phase completed with GLA of 40,000m2
BGO, a leading global real estate investment management firm, and thirteen seven, a German developer based in Aachen, have signed the first lease in Mittelweser Park. The international logistics company, ID Logistics, has committed to approximately 17,000 square metres in one of Germany’s newest, sustainability inspired logistics industrial developments. The company will occupy two units meeting WGK´s requirements, from the second half of 2024.
"The long-term lease agreement with ID Logistics and advanced discussions with other tenants underscore BGO’s conviction in the Hanover market and Germany as a whole. The location in northern Germany and the availability of labor creates a highly attractive submarket for logistics operators intending to serve Hanover as well as broader Germany." explains Jürgen Diehl, Managing Director at BGO.
In future, users will benefit from the good infrastructure links via the four-lane federal road B6, the dual-carriageway B215 federal road and the A1, A2, A27 and A7 motorways. These provide access to the seaports and all northern German logistics regions such as Hamburg, Bremen, Hanover and Münster/Osnabrück.
Mittelweser Park, with a total usable area of 127,000 m², is one of the few large-scale speculative logistics projects in Germany. The park is currently being developed to the highest ESG standards - the targeted DGNB platinum certification and the GEG-40 standard.
The aim is to provide logistics services providers, retailers as well as light industrial users with twelve sustainably constructed units. The largest possible area unit in one piece currently comprises 80,000 m².
"The completion of phase I with around 46,900 m2 gross lettable area (GLA) was finished in March 2024. Construction of phase II with a GLA of 46,900 m2, respectively phase III with a GLA of 33,200 m2, are currently underway. Units are available from the second quarter and third quarter of 2024, respectively," reports Mirko Eickhoff, Managing Partner at thirteen seven GmbH.
In Mittelweser Park, the rainwater collected eco-friendly seeps away directly onto the site and is thus returned instantly to the water cycle. In addition, an amphibious habitat for animals and plants is created and the microclimate is positively influenced. The other green areas will be laid out as near-natural flowering meadows. Extensive noise protection measures ensure a quiet environment. The exemplary character in terms of sustainability is complemented by the possible installation of a solar power system for the production of low-cost tenant electricity.
Jens Beckmeyer, Mayor of the Mittelweser joint municipality, commented positively on the construction progress and the first lease agreement: “We are very pleased that the investment of BGO and thirteen seven in the Mittelweser joint municipality is proceeding according to plan. The first rental agreement signed with the international contract service provider ID Logistics emphasizes the importance of Mittelweser Park. It will create a variety of different workplaces at all hierarchical levels in the areas of logistics, IT, technology, administration, and personnel.”
‘Mittelweser Park is visibly taking shape. The next big step is now being taken with the first tenant, which will settle in Estorf in 2024. We are looking forward to welcoming ID Logistics,’ commented Jens Lange, Mayor of the municipality of Estorf.
Further information can be found at: www.mittelweserpark.de
For more information on DGNB, please visit: https://www.dgnb.de/en
About BGO
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $83 billion USD of assets under management (as of December 31, 2023) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bgo.com
About thirteen seven
thirteen seven GmbH is an owner-managed property developer with focus on industrial and logistics. The firm is currently delivering more than 250,000 m2 of modern warehouses throughout Germany.
Founded in 2021 by its Managing Directors Mirko Eickhoff and Marco Eckers, the company focusses strongly on its proprietary eco system that allows off-market site acquisitions as well as close connections to its tenants and service providers.
Further information is available at https://thirteenseven.de
Media contact
Silke Westermann
SH/Communication
Mobil: +49 173 29 20 641
s.westermann@shcommunication.de
