In a deal confirmed this week, Verdion AirPark Berlin has been sold by Patrizia to CBRE Global Investors following strong bidding from a number of parties keen to acquire this outstanding logistics park.
Since the site was acquired in January 2015 three phases of logistics facilities have been completed and leased, with businesses attracted by the location 30 minutes from Central Berlin and the high quality warehousing Verdion has developed and managed on Patrizia’s behalf.
Phase 1 of the park was completed in 2016, with a total of 317,500 sq ft (29,500 sq m) occupied by food delivery service Bringmeister, metalworking company PUK, and international logistics group Dachser SE.
Phase 2 – 238,500 sq ft (22,150 sq m) – was completed in 2018, with half of the space leased to DÜRKOP GmbH, an auto repair parts supplier for many leading car brands, and the other half leased to Streiff & Helmold, a railroad services provider.
More recently Verdion leased a second building on the park to Dachser SE, a 107,500-sq-ft (10,000 sq m) logistics facility, and the final phase of development is now complete with four new buildings brought forward speculatively, each offering 54,000 sq ft (5,000 sq m) of space.
Michael Hughes, CEO of Verdion, said: “Against a backdrop of significant e-commerce sector growth, the fundamentals that originally made this site an attractive development opportunity still hold true. At the same time, Airpark offers very high-quality buildings designed to meet occupier requirements for years to come. The park’s potential is reflected in the pricing achieved, with the outcome for our partners Patrizia significantly exceeding expectations.”