May 2016 - Verdion

Verdion and Rockspring secure 188,375 sq ft (17,500 sq m) letting at Airpark Berlin logistics development

By | News | No Comments

Verdion, Europe’s specialist logistics developer and Rockspring Property Investment Managers LLP (“Rockspring”) have let 188,500 sq ft (17,500 sq m) at their €90 million Verdion Airpark development in Berlin.

A leading e-commerce company specialising in ‘last mile’ home delivery, has taken 162,600 sq ft (15,100 sq m) of warehouse space, with a 6,500 sq ft (600 sq m) mezzanine and 19,400 sq ft (1,800 sq m) of office accommodation.

This is the second letting at the Airpark development, which is being undertaken in partnership with a discretionary fund managed by Rockspring, and follows the letting of 63,500 sq ft (5,900 sqm) to Dachser completed earlier this year.

Verdion Airpark is located in close proximity to Berlin’s city centre and is within two kilometres of the new Berlin Brandenburg Airport and adjacent to key road and rail infrastructure. The 990,300 sq ft (92,000 sq m) lettable scheme will be delivered in phases, with both speculative and ‘built to suit’ opportunities for warehousing units ranging from 54,000 sq ft (5,000 sq m) to 430,000 sq ft (40,000 sq m). The units have been flexibly designed to the highest specification to meet the strong market demand from 3PLs, retailers and e-tailers seeking urban logistics space. The development has an expected end investment value exceeding €90 million.

Verdion’s Business Development Partner, Stephan Dalbeck commented: “We had the confidence to move forward with speculative development and are close to having all of Phase 1 comprising 318,000 sq ft (29,500 sq m) let before completion. Consequently, we will shortly be submitting a building application for Phase 2 comprising 270,000 sq ft (25,000 sqm) top-quality logistics space in this fantastic location.”

Stuart Reid, Rockspring Partner overseeing Germany said: “The letting reflects not only our faith in the strategic location on the edge of Berlin but the increasing importance of food e-commerce in the retail market place of Germany.”