GLP acquires central warehouse in Bietigheim-Bissingen, Germany, from Hofmeister
Frankfurt, 07 April 2022 – GLP, a leading investor and developer of logistics warehouses and distribution parks, has acquired a 30,000 SQM central warehouse in Bietigheim-Bissingen from the Hofmeister group. The purchase was an off-market transaction.
The site in Bietigheim-Bissingen, the second-largest town in the district of Ludwigsburg, Baden-Württemberg, is situated in a prime location on the 27 highway, which runs through the town and leads directly to the A 81 motorway. The Ludwigsburg North junction is only six kilometres away.
The site is excellently integrated via a strong road network, both locally and in the surrounding region. Stuttgart and Heilbronn can each be reached within 30 minutes’ drive, and Singen, on the Swiss border, in less than two hours. The facility is in an excellent location offering ideal support for last mile delivery.
The transaction was prepared in partnership with Hofmeister and with Dr. Grosshans Immobilienvermittlung, a Stuttgart-based real estate company, and was completed within a very short time. GLP was advised by DLA Piper on matters of real estate law in connection with the leasing.
Patrick Frank, Country Director Germany, GLP, comments: “With this transaction, we are once again accelerating our growth strategy in Germany following a sustained period of strong activity across the country. For the second time this year, we are complementing our concept of property purchases and our role as a developer by acquiring a strategic existing facility in a first-class location”.
In the first quarter, GLP leased logistics facilities in the German market totalling 63,000 SQM and also acquired a new logistics facility, prior to the start of construction, through an off-market forward deal.
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