Logistics property annex in Kassel completed
DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, just announced the completion of the expanded logistics property in Wolfhagen near Kassel, which was developed through RLI Investors GmbH, the company’s wholly-owned logistics real estate specialist. Planned and developed together with property developer RLI Development GmbH, the logistics asset was completed on schedule. Volkswagen Classic Parts moved into a sub-unit of 5,100 sqm (out of a total area of 10,200 sqm of newly created floor area) during the first quarter of 2021. The logistics centre, which now measures around 30,000 sqm overall, is held in the portfolio of the “RLI Logistics Fund – Germany I” open-ended real estate special AIF.
The logistics property, which would also lend itself to alternative use, sits in a conveniently accessed location in direct proximity to the A44 motorway (east-west) and close to the A7 motorway (north-south). Any place in Germany is within range of same-day goods distribution from here. Major destinations elsewhere in Europe are also within easy reach. The new-build logistics centre meets the highest sustainability standards. For example, glulam timber beams were used for the roof truss, reducing the CO2 footprint by 264 tons. It is intended to have the annex certified under the DGNB sustainability standard.
Volkswagen Classic Parts signed a long-term lease for the mentioned sub-unit well ahead of the building’s completion. The company, which supplies spare parts for Volkswagen youngtimers and oldtimers, has already been at the Wolfhagen / Breuna site since 2017.
©Logistics property development company fabrikon, Kassel