Panattoni sells Hamburg logistics property to JP Morgan, Cromwell JV

Panattoni sells Hamburg logistics property to JP Morgan, Cromwell JV

Panattoni has sold its fully-leased logistics park in Hamburg to a joint venture between J.P. Morgan Asset Management and Sydney-listed Cromwell Property Group.

Strategically located to the north of Hamburg in one of the strongest economic regions in the country, Panattoni Park Hamburg consists of five halls plus externally leased parking spaces totalling 80,163 sqm with ‘Gold certification’ from the German Sustainable Building Council (DGNB) in recognition of its sustainable, energy-efficient design.

The logistics park that has been completed in 4Q 2022 is located on a 157,900 sqm site and comprises ca. 70,000 sqm of prime logistics space.

JLL acted on behalf of Panattoni to deploy JP Morgan and Cromwell Property Group as buyer. The buyer was advised by Colliers and Hengeler Mueller.