Kerpen, west of Cologne, is a good location for logistics real estate, as two important traffic arteries of North Rhine-Westphalia, the A61 and A4, cross here and the cathedral city is less than 40 km away. The “Log Plaza Kerpen” property, which was recently acquired by the Munich-based real estate investor LIP, is also concerned with logistics. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Deconstruction of a former furniture high-bay warehouse
The property is a multi-user logistics building and is located on a 50,000 square metre site. The building offers 25,905 square meters of hall space and 2,271 square meters of office space. 120 parking spaces are also available. The building originally served as a high-bay warehouse for the furniture dealer Porta. The owner Kerpen LPK 5 GmbH, a subsidiary of Osmab Holding from Rösrath, had already started the revitalisation of the property in 2018 and successfully completed it shortly before the sale. The Osmab Group has been operating as a real estate investor, project developer and portfolio owner since 1992.
The building from 1984 was initially dismantled in a sustainable manner – reusing the approximately 1,800 tonnes of steel, 1.2 tonnes of copper and approx. 13,500 cubic metres of recycled material. The revitalized building was leased on a long-term basis to two tenants – the logistics service provider Logwin and to Saint-Gobain Autover Deutschland, a subsidiary of the French industrial group Saint-Gobain. Automotive glazing and spare parts for cars are the business of Saint-Gobain Autover Deutschland.
Munich-based LIP Invest is an owner-managed investment house with an exclusive focus on logistics real estate. The purchase in Kerpen was made for the “LIP Real Estate Investment Fund – Logistics Germany” fund launched in 2018. The fund portfolio is thus rounded off.
Picture source: Unsplash