RLI Investors expands logistics location in Breuna near Kassel by 10,200 sq m
RLI Investors (RLI), an independent asset and fund manager, and a specialist for logistics properties, is developing a logistics warehouse for third-party use measuring around 10,200 sq m on a plot measuring 21,500 sq m with its project company RLI Development at the Wolfhagen/Breuna location near Kassel.
VW Classic Parts will be a long-term user with an area of 5,100 sq m. RLI is in talks with potential tenants for areas in the second section of the hall. Construction on the two-bay logistics property began in the third quarter of 2020, and it is scheduled for completion in January 2021.
RLI secured the 21,500 sq m building plot in conjunction with the acquisition of a newly built logistics property measuring around 21,000 sq m and let to VW Classic Parts on a long-term lease in the “Hiddeser Feld” industrial park for the portfolio of the open-ended property AIF “RLI Logistics Fund – Germany I” in 2017, and acquired it for the fund at the start of 2020. From 2021, the company of the VW Group will add the new space to its portfolio for the same purpose.
The project developer behind the new build is RLI Development GmbH, a wholly owned affiliate of RLI Investors GmbH. It will oversee the construction project from planning and completion through to the full letting and handover of both units to their users. RLI hired fabrikon, which specialises in building logistics properties, as its general contractor.
Katrin Poos, Managing Director of RLI Investors, says: “This extension is a textbook example of our core competence and the networking within our group of companies. The new build for third-party use is being erected at a logistics site with optimal transport connections, and its many utilisation options mean that it can be individually tailored to the respective tenants and industries.”