GLP acquires new logistics development in Düren, Germany through an off-market forward deal
Frankfurt, 15 March 2022 – GLP, a leading investor and developer of logistics warehouses and distribution parks, is acquiring a new development of more than 30,000 SQ M from Logic Green through a forward funding transaction. The logistics warehouse is located in Düren in the German federal state of North Rhine-Westphalia, an excellent location strategically positioned between the major cities of Aachen and Cologne.
GLP has acquired the facility prior to the start of construction, by means of a forward deal, via an off-market transaction. GLP was chosen as a partner for the development because of its speed and execution reliability.
The facility benefits from excellent transport connections to both the B56 highway and the A4 and A3 motorways, meaning that c.18 million customers in Germany alone can be reached in just 30 minutes. Thanks to its central location near the border with the Benelux countries, the building can also be used as a broader European hub. Many consumers in Belgium and the Netherlands are only about 1-3 hours away by truck and can therefore be supplied with goods quickly.
The high-quality logistics facility is rated Grade A and offers a 32,000 SQ M leasable area, which can be subdivided into three units of 10,000 SQ M each. At least one of the three units will be equipped to allow storage of hazardous materials.
GLP’s logistics and distribution facilities meet the highest standards for environmentally friendly construction. Like all the company’s new developments in the German market, this new facility will be built in compliance with the strict sustainability standards of the German Sustainable Building Council (DGNB) and will be at least DGNB Gold-certified. This sustainable approach allows customers to reduce energy consumption, CO2 emissions and water usage, and thus operating costs.
The facility is a brownfield development. Demolition has already been completed, and construction of the new facility has begun. Completion is planned for October 2022.
Patrick Frank, Country Director Germany, GLP, comments: “With this acquisition, we are accelerating our growth trend in strategic locations in the biggest European logistics markets. This expansion of our logistics portfolio will benefit both our customers, to whom we offer sites in prime locations despite the shortage of available land, and our international investors, who want an attractive cashflow and value appreciation”.
A GLP logistics building
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