Pan-European urban logistics platform Valor Real Estate Partners has acquired an urban warehouse property in Berlin Pankow, as it gears up for growth in the German market.
The asset comprises a 25,318 sqm industrial site alongside a 15,251 sqm undeveloped plot of land and is located on Buchholzer Strasse 47-54, 20 minutes’ drive north of Berlin city centre, with direct access to the A114/B109/B96a motorways.
The current warehouse building will be partly demolished and subsequently refurbished delivering a 12,090 sqm warehouse, split into two urban distribution units with four to six dock loading doors and one level access door per unit.
In addition, a newly developed 6,148 sqm multi-purpose warehouse will provide four smaller units of 1,350 sqm to 1,615 sqm, each with one dock loading and one level access door.
“As one of the most dynamic e-commerce markets globally, we are excited by the urban logistics opportunity in Germany, especially around Berlin and other major cities, hence our ambition to significantly grow our footprint over the short to medium term. This acquisition is a strong fit with our portfolio and underlines our ability in identifying and acquiring assets in a competitive investment environment. The vacant warehouse is ideally located for last-mile delivery in critically undersupplied infill markets and offers potential to enhance value on the asset level through repositioning and leasing activity,” said Camila Malzkorn, Vice President at Valor.
Valor has identified Germany as a strategic priority and has amassed a portfolio of four last mile properties since 2019, located in the key conurbations of Berlin, Frankfurt and Duesseldorf. Valor is aiming to deploy a significant portion of its current EUR 1 billion investment vehicle into the German market.