CBRE Global Investors lets logistics building in Bingen-Grolsheim in Germany
CBRE Global Investors has agreed a new 15-year lease for a 16,100 sq m logistics asset in Bingen-Grolsheim in the Rhineland-Palatinate district of Germany with Amazon.
Located approximately an hour away from Frankfurt, the asset was originally constructed as a cold storage cross-dock warehouse. Prior to taking occupancy in late 2020, Amazon will complete a comprehensive refurbishment of the asset to create a modern delivery station, including the construction of additional car parking spaces, facilities and break rooms for staff.
The 41,800 sq m site is located in the Bingen am Rhein & Grolsheim commercial and industrial park, benefitting from direct access to the A61 motorway and the regional and national transport network.
"We have seen a growth of demand in online shopping during the pandemic, accelerating a trend that was already driving demand for high-quality and well-located logistics assets across Europe. Working with a well-known tenant such as Amazon is a strong endorsement of our strategy to acquire and operate best-in-class logistics assets in key markets, and we look forward to welcoming them in the latter part of this year.” says Tore Gehres, Head of Asset Management Logistics at CBRE Global Investors.
Marije Braam-Mesken, Portfolio Manager at CBRE Global Investors, adds: “With this excellent letting we provide, on behalf of one of our separate account clients, a secure income for the next 15 years.”