Early handover for Verdion and Tritax EuroBox’s HAVI development

17/01/2020

Verdion and London-listed Tritax EuroBox plc have today handed over a specialist cold storage and logistics facility in Wunstorf near Hanover, Germany, to occupier HAVI Logistics GmbH.

The property on Adolf-Oesterheld-Strasse includes a 9,000 sq m (96,876 sq ft) cold storage facility for groceries, 6,000 sq m (645,584 sq ft) of logistics space and 1,000 sq m (10,764 sq ft) of office and community space.

Verdion started work on the asset eleven months ago and has handed the project over four weeks early.

Duisburg-based HAVI Logistics, a subsidiary of US-headquartered The HAVI Group, took out a 15-year lease on the asset. The food service logistics firm serves restaurants and convenience stores, with clients including McDonald’s, KFC, Nordsee and Vapiano. It will employ around 200 people at the site.

“A major focus of the development was the technical expertise needed to meet HAVI’s sustainability requirements,” said Stephan Dalbeck, Business Development Director at Verdion. “In addition to a low-energy and sustainable building design, we implemented the spatial and technical requirements for CO2-neutral cooling systems and waste heat recovery, for example, harnessing our longstanding experience in the built-to-suit market.”

The property received a sustainability certificate in Gold from DGNB, the German Sustainable Building Council.

Roland Schmidt, Chairman of the Board of HAVI Logistics Germany, added: “This distribution center is not only HAVI’s first location in Lower Saxony but also represents a major milestone in our sustainability strategy.” Verdion and HAVI also installed a liquefied natural gas filling station at the site to serve HAVI’s growing LNG-fueled truck fleet. The company plans to reduce carbon emission per ton delivered by 40 percent until 2030.

Tritax EuroBox bought this asset in a pre-let forward funded deal for EUR 27.5m at the end of last year. Nick Preston, Fund Manager at Tritax EuroBox said: “A core strand of our investment strategy is to focus on acquiring high-quality, sustainable logistics assets strategically located in established prime logistics locations in Europe. Let to the strong tenant Havi Logistics for the next fifteen years, we believe that this investment will generate an attractive income return for our investors.”

KLEBL GmbH acted as general contractor, tricer management GmbH as project manager and Büro Kühling as architect in the development. JLL acted as broker for the site and the project.