6 April 2018 – Gazeley, a leading investor and developer of logistics warehouses and distribution parks, announced today that it is commencing construction of an 226,000 SQ FT warehouse in Stuttgart, Germany.
Construction on the site will begin this week and is expected to complete by November this year. Upon completion, the warehouse will have a clear height of 10m, as well including just under 3,000 SQ FT of office space. Approximately 140,000 SQ FT of the site has already been leased, with 86,000 SQ FT still available.
The development plan will continue to bolster Gazeley’s presence in Germany. As it stands, Gazeley operates 5.5 million SQ FT of space with a landbank allowing for the development of an additional 3.7 million SQ FT of logistics space in strategic locations.
Stuttgart Süd 2 is situated in the heart of Baden-Wuerttemberg and the Stuttgart metropolitan area. Baden Wuerttemberg is a leading federal state and is one of the most important economic hubs in Europe. With the automobile industry as a leading sector, the area also hosts a large number of highly successful small to medium sized companies.
Ingo Steves, Managing Director, Northern Europe of Gazeley, said: “The site has excellent transport links making it a prime location for our customers. The region is a leading economic hub in Europe and the sites proximity to other leading international businesses will no doubt be attractive to our prospective customers.
This development further strengthens our position in Germany, continuing to expand in a crucial market where there is a growing demand for logistics and distribution.”
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Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 17 million square foot portfolio concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands. In addition to its operating portfolio, which is 96% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 16 million square feet. Gazeley is GLP’s Europe platform.
GLP is the leading global provider of logistics solutions. Through its network of strategically-located properties and ecosystem partners, GLP is able to offer both space and technology-led solutions to drive value for its customers. GLP is one of the world’s largest real estate fund managers, with over US$50 billion of assets under management and a global portfolio of 636 million square feet spread across eight countries globally.
For further information about Gazeley please go to www.gazeley.com
For further information about GLP please go to www.glprop.com