and Trammell Crow Company have partnered to develop a 41,400sqm logistics centre in Germany.
The partnership will develop the Class-A logistics facility at CORE Temnitzpark in Neuruppin in the greater Berlin area.
The property has a size of around 80,100sqm and the building permit for a logistics centre with about 41,400sqm of rentable space has already been obtained.
Richard Fell, the head of European commercial capital markets at Trammell Crow Company, said: 鈥淲e are delighted with the successful completion of this partnership and the imminent joint development of this world-class, highly sustainable and modern logistics centre. For TCC, Germany continues to be one of the preferred markets for logistics real estate in Europe.
鈥滸ermany is not only Europe鈥檚 industrial engine, but is characterised not only by an imbalance of supply and demand, but also by a persistent lack of speculative development projects. That鈥檚 why we continue to actively look for opportunities to develop first-class real estate here.鈥�
Felix Richter, co-head of transactions Germany and Austria, Invesco Real Estate, said: 鈥淲e are delighted to have secured this high-quality new logistics project for one of our long-standing customers. Partnering with Trammell Crow Company, an industry-leading real estate developer, ensures that we are creating a world-class logistics centre that meets the highest sustainability standards.
鈥漌e are convinced that the flexible usability of the property will attract tenants from various industries and thus meet the demand for high-quality commercial space in this region. Completion of the property is scheduled for the second quarter of 2025.鈥�
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