Prologis Acquires 16 Hectares in Dortmund
Düsseldorf (November 13, 2017) – Prologis, Inc., the global leader in logistics real estate, today announced the acquisition of 16 hectares of land in Dortmund, Germany. The seller is Dortmund Logistik GmbH. Upon completion of the ground preparations in 2020, the land will be handed over to Prologis.
“We are pleased to have our offer accepted for this top-class plot in such an ideal location,” said Alexander Heubes, senior vice president, country manager, Prologis. “Space for logistics facilities in the Ruhr District is scarce, so this acquisition is all the more valuable for us. It falls in line with Prologis’ strategy to grow in central locations with ideal transport connections and in direct proximity of the delivery areas. We see great potential in Dortmund. The city in the eastern Ruhr District is situated in one of our core markets and is one of the most active and strongest logistics markets in Germany at the moment.”
The area comprises 58 hectares in total. It is the formerly sintering plant in the north-eastern section of the company premise of the Westfalenhütte. The first section was sold in 2016. “Our aim was to find one overall taker for the second plot section – an investor that would suit our ambitious schedule and wants to commit to the site long-term,” said Silke Seidel, managing director of Dortmund Logistik. “Prologis represents the next noteworthy investor that we have managed to acquire for this site,” added Max Trapp, managing director of Dortmund Logistik.
Prologis plans to develop a logistics park with approximately 90,000 square meters and three facilities on the plot. The buildings will be leased to operators in the logistics industry. The site is especially suitable for e-commerce businesses, logistics service providers and retail logistics companies. As long-term owner, Prologis will also be responsible for the property management for its clients.
“As experts for brownfield development, the Dortmund region gives us the opportunity to offer premium distribution space from a strategic logistics location in the coming years,” said Philipp Feige, vice president, market officer Germany at Prologis. “The demand for top-quality logistics space in the Ruhr area is high. The revitalization of brownfield is a sustainable solution as no new areas of soil are sealed and, in many cases, prior contamination is removed. We give this former industrial plot a new purpose.”
Dortmund’s mayor Ullrich Sierau also considers the sale of the plot to be a positive development: “It’s the continuation of an extraordinary success story. It proves once again that our city has established itself as an important logistics location and taken decisive structural steps to pave the way for the future. We look forward to welcoming top-rate companies and seeing lots of new employment opportunities open up.”