Prologis Enters Berlin Logistics Market
- Acquires 548,200 square meter portfolio in Berlin and Rhine-Ruhr.
- 11 logistics facilities added to portfolio.
- Expanded platform offers customers greater access to top-quality logistics space.
- Presence in Berlin furthers Prologis’ strategy of being in the world’s most vibrant centers of commerce.
Prologis, Inc., the global leader in logistics real estate, today announced the acquisition of an 11-building portfolio in Berlin and Rhine-Ruhr. The acquisition substantially bolsters Prologis’ presence in these two key logistics markets.
The 548,200 square meters of space is located on 83.5 hectares of land in primarily urban areas, including both stabilized assets and opportunities for new development.
“This acquisition is in line with our strategy to expand our presence in Germany by acquiring properties that align perfectly with growing customer demand for logistics real estate in urban areas,” said Björn Thiemann, senior vice president, country manager, Prologis Germany. “Once we’ve completed necessary redevelopments, the facilities will be highly complementary to our existing assets in Germany and allow us to even better serve our customers and the region.”
The transaction will add 104 new customers to the Prologis portfolio in Germany and increase it to 3 million square meters in total.
Berlin: Building a Presence in a Prime Logistics Market
Germany’s largest city in terms of population and GDP, Berlin is a hot-spot for innovative businesses and start-ups.
“Significant development activity in submarkets such as Berlin is being fueled by a historic low supply of modern facilities,” said Thiemann. “Customer demand for logistics facilities in Berlin is rising, driven by robust purchasing power, strong projections for e-commerce, and growing demand for same-day delivery. This acquisition in one of the most sought-after regions of Germany strategically broadens our platform by adding buildings in infill locations.”
Eastdil Secured represented the seller in this transaction. CBRE, Hogan Lovells and Arcadis advised Prologis.