Commerz Real Acquires Logistics Property for "hausInvest europa”

Commerz Real just signed the deed for the “Hermes Hub Nord” logistics project development in Hanover. Following its prospective completion in Q4 2010, the property will be transferred to the “hausInvest europa” open-ended real estate fund. The total investment volume for this asset, whose gross lettable area of about 58,000 sqm is fully let for 15 years, approximates 24 million euros. The seller was a property company of ECE Project Management GmbH & Co. KG.

“The logistics project development ‘Hermes HUB Nord’ is located in the Airport Business Park in Hanover, a future-oriented industrial and service estate that is created in the immediate vicinity of Hanover Airport," said Hans-Joachim Kühl, Member of the Board of Commerz Real AG and in charge of real estate acquisitions. “The location of this logistics property benefits from the superb transportation connectivity and infrastructure in the proximity of the airport but also from the region of Hanover as such – a logistics hub for Eastern and Northern European markets.”

The “Hermes HUB Nord” property consists of a combined warehouse and administrative building as well as paved outdoor areas intended for the installation of container swap bodies and truck parking. The tenant is Hermes Logistik Gruppe Deutschland GmbH, a German shipping company that will use the site as parcel trans-shipment point for Northern Germany.