Ashurst advised LIP Invest on the acquisition of a new logistics building in Rottenburg. LIP Invest is purchasing the property by way of an off-market deal on behalf of one of its funds. The parties have agreed not to disclose the transaction volume.
The new logistics building in Rottenburg am Neckar, Mercedesstrasse, will have a total rental area of around 13,000 square meters on an area of 30,000 square meters. Completion is scheduled for the end of August 2023 and will serve to expand Dachser’s Rottenburg branch as a long-term tenant.
The logistics hall, built by project developer Panattoni, will have a height of 12 meters and a floor load capacity of 9 tons and can be divided into two units. Unit 1 will be designed as a temperature-controlled storage area for 12-14°C. These refrigerated areas are suitable for the storage of food as well as pharmaceutical products. For access, 25 ramp gates and two ground level gates are planned. The property will provide 64 car parking spaces and 12 truck parking spaces; a further 55 local transport parking spaces are planned for tractor. A total of 3 e-charging stations for cars and 2 e-charging stations for trucks will be pre-fitted. The subsequent installation of a photovoltaic system has been taken into account statically, so that the charging stations can be operated with solar power.
The Stuttgart metropolitan region is one of Germany’s most important industrial locations, and the site’s direct link to the A81 motorway means that important production centers in the region, including those for the automotive and electrical industries and their suppliers, can be reached within half an hour.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Christopher Jeschor and associates Raphaela Schmidt, Carolin Siebeck and legal manager Ibrahim Ünal (all Real Estate). Senior associate Ilka Breuer provided investment law advice.
At LIP Invest, the transaction was led in-house by Daniel Pahl, General Counsel & Head of Operations.
Ashurst already worked for LIP Invest in the past. The team headed by Dr Liane Muschter advised the leading provider of special real estate funds in the asset class of logistics real estate in Germany already on the purchase of a logistics terminal from Panattoni in Herbrechtingen, Baden-Württemberg, and on the acquisition of the Noerpel logistics center in Giengen.
