Verdion, Europe’s specialist logistics developer and Rockspring Property Investment Managers LLP (“Rockspring”) have secured a third pre-let at their €90 million Verdion Airpark development in Berlin. The letting is to the Berlin-based business PUK Group GmbH & Co. KG.
The global metal processing company has taken Unit 2.1 which comprises a 55,027 sq ft (5,112 sq m) logistics unit, with approximately 2,788 sq ft (259 sq m) of office and ancillary space.
This is the third letting at the Verdion Airpark, Berlin development, which is being undertaken in partnership with a discretionary fund managed by Rockspring. This year 63,500 sq ft (5,900 sq m) has been let to Dachser and a German e-commerce company will occupy a 162,600 sq ft (15,100 sq m) warehouse, with a 6,500 sq ft (600 sq m) mezzanine and 19,400 sq ft (1,800 sq m) of office accommodation.
Verdion’s CEO Michael Hughes comments: “We are really flying with this development. Phase 1 is now fully let prior to completion, demonstrating the strength of the location of Verdion Airpark Berlin and the demand for top quality logistics space.”
Stuart Reid, Rockspring Partner overseeing Germany said: “We took the view to develop some 325,000 sq ft (30,000 sq m) speculatively in 2015. The third letting, prior to completion, has got the park off to a great start and fully supports our belief in the region, the product and the demand.”
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.