(HAMM, GERMANY) - Global real estate firm, Hines, has completed, fully leased and now disposed of its state-of-the-art logistics development, the DistributionPark in Hamm, Germany. Hines has subsequently sold the project to PATRIZIA AG, a leading real estate investment company.
Due to its excellent location in the Rhine-Ruhr and high-end specifications, the complex was fully leased while under construction to Arvato Supply Chain Solutions, ADVANSA, and online grocer, Picnic, who secured the remaining 23.000 square meters of space.
In close partnership with the city of Hamm, Hines identified two brownfield sites that could be revitalized and redeveloped in the area into two new, modern e-commerce suitable facilities comprising a total of 72,000 square meters. The new buildings include flexible warehouse space as well as high-end office and social facilities. The project has high-end environmental credentials and is expected to receive a platinum DGNB sustainability certificate by the second quarter of 2022.
In addition, the project exceeds all the requirements of modern logistics center occupiers, and by way of one example, Hines worked with the occupiers to install a highly automated shuttle solution, which is considered one of the largest in Europe with eight kilometers of conveyor technology.
Christian Meister, Managing Director at Hines in Germany, who acted as Development Manager for the project, says: “This DistributionPark is representative of Hines’ logistics development capability in Germany. With this project, Hines has raised the bar, and has set a great benchmark for the industry in terms of ESG and automation, as well as for job creation and training within the local community. We are very proud of what we have accomplished, and we look forward to more.”
Among other things, leading-edge sustainability characteristics of the building include recyclable facade elements, high-quality insulation materials, sensor-controlled LED lighting, a preliminary set-up of a photovoltaic system, upstream load houses to avoid thermal bridges, and the integration of local flora and fauna. In addition to structural measures, the building utilizes a combined heat and power plant enabling a carbon neutral operation of one of the two construction phases.
Hines acquired the property in the Hamm-Uentrop industrial park as part of an off-market transaction in 2019. The location in the eastern Ruhr district is very well connected to the highway and, via an access point in Dortmund, to the European rail network for combined freight transport.
Hines was advised on this project by DE Gold and GSK Stockmann (legal). Krüger Consult (architects) and Köster (general contractor) were active in the implementation. CBRE acted as a broker for the transaction.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
¹Includes both the global Hines organization as well as RIA AUM.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management valued at approximately €21.7 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Denmark, Czech Republic, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Since the opening of its site in Germany in 1991, Hines has acquired or developed a total of 47 properties with an overall surface area of over 1.8 million m² for Hines or on behalf of external clients, including properties such as Werfthaus and Silberturm in Frankfurt, Zoom and Stadtquartier Südkreuz in Berlin, Hofstatt, Uptown München, OSKAR, Tucherpark, aer and MediaWorks in Munich, the Überseequartier Nord district in Hamburg, the Benrather Karree and Kö-Quartier in Düsseldorf, Friesenquartier in Cologne and the Postquartier, Karlshöhe and Kronprinzbau 1+2 in Stuttgart. Hines currently manages a portfolio of €8.5 billion in assets under management and also provides third-party management services for numerous properties.
Visit www.hines.com for more information.