Panattoni Europe has successfully delivered a new logistics facility for Rudolph Logistics Group in Lorsch, near Frankfurt. Panattoni handed over the 12.400 square meter facility to Rudolph at the end of June, following a development period of only seven months. The project has been developed as part of the joint venture between Panattoni and Pramerica Real Estate Investors.
"Our new logistics facility in Lorsch allows us to expand our client service offerings and to continue to provide the highest quality service to our clients, particularly for clients with multiple end-user requirements. Lorsch has become a strategic location for the German logistics industry in general, and plays a very important role in our operations. We experienced some challenges during the development phase of the project, and Panattoni approached and solved the issues very professionally. We take great pleasure and pride in the ultimate result of this project - simply said, the project was a success," said Reinhard Braun, Executive Vice President Rudolph logistics.
The new logistics facility was developed on a 20.000 square meter site in Lorsch, immediately adjacent to the A67 motorway and only five kilometers from the A5 motorway. The state-of-the-art building incorporates several environmentally friendly design elements, including a rooftop photovoltaic system for electricity generation.
"We are very pleased to deliver this Class A facility to Rudolph in such a short development period. We appreciated working with the team from Rudolph to realize the project in this strategic location, and we look forward to future business opportunities together," said Heiko Richter, Director for Panattoni Europe.
Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial/warehouse developers in the world, with offices across North America and Europe. Since entering Europe in 2004, Panattoni Europe has developed over 1.7 million square meters of space. More info at www.panattonieurope.com
Pramerica Real Estate Investors ("Pramerica") is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in real estate equity and debt opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Pramerica has a global presence with 24 locations in the United States, Europe, Middle East, Asia and Latin America and manages over $51.3 billion in gross real estate assets ($33.4 billion net as of 31 March 2012) invested in over 30 countries on behalf of over 490 investors worldwide.
Pramerica has been managing real estate investments for clients since 1970 when it pioneered the use of the open-end, commingled equity real estate fund, offering U.S. investors access to a diversified investment in core commercial real estate. Since then, Pramerica's investment management activities have expanded to include higher returning strategies offered through a series of open and close-end diversified commingled funds and separately managed accounts which span the risk spectrum from core to opportunistic. www.pramericarei.com