Panattoni starts speculative construction in Essen and Verden

• In Verden, Lower Saxony, two halls are under construction and will offer a combined 59,630 m² of logistics space upon completion in March 2021
• In Essen, a premises offering 20,344 m² of workspace is under development and will be ready for occupation in November 2020
• Construction work on both projects commenced in May 2020

Panattoni, the leading project developer for industrial and logistics premises in Europe, has begun construction on two simultaneous projects in May 2020. The start of work on the two properties, which have not been pre-let, has not been impeded by the coronavirus crisis. Fred-Markus Bohne, Managing Partner at Panattoni, has spoken about the projects. “We are staying on our growth course, even in these difficult times, and are well positioned to do so,” he said. “Furthermore, we are convinced that there will be continued demand for commercial and logistics premises in strategic locations.”

In the Lower Saxon town of Verden an der Aller, a 117,971 m² plot is to become the site of a logistics premises with two halls, which Panattoni is constructing without pre-letting. The site is located in an industrial zone directly beside the exit from the A27 motorway, providing future tenants with a high-speed connection to Bremen. Numerous international enterprises including Hello Fresh and Amazon have already taken advantage of the benefits of the location. The first hall will offer 30,769 m² of logistics space, 1,224 m² of office space and 2,650 m² of mezzanine space. The second hall will be slightly smaller, comprising 28,861 m² of logistics space, 906 m² of office space and 1,823 m² of mezzanine space. It will be possible to divide the two buildings into seven independent units; the site will also include a total of 168 car parking spaces and 28 lorry parking spaces. The premises will be developed in accordance with the guidelines of the DGNB Gold Standard and are set to be completed in March 2021. The town of Verden and its Business Promotion department have actively supported the project. Broker firms IMMO-LOG and CBRE have been engaged to market the premises.

Construction also began in May on a logistics park in Essen, North Rhine-Westphalia. The brownfield site measuring approx. 43,220 m² will offer 20,334 m² of logistics space, 1,215 m² of office space and 1,575 m² of mezzanine space. The premises can be divided into two smaller sections and one large section and will offer 195 car parking spaces and 12 lorry parking spaces. In addition, the logistics premises will be equipped with energy-saving LED lighting systems. Before construction could begin, extensive demolition and remediation works were required to remove ageing existing buildings, some of which were more than 60 years old and featured underground storage tanks.

The site, in an industrial zone north of Essen, is in the vicinity of the harbour. Consequently, it has access to excellent multi-modal infrastructure with major canal ports and container terminals nearby, including daily rail connections to Hamburg and Bremerhaven. Even leaving this aspect aside, the Ruhr region is among the strongest business locations and thus one of the strongest logistics markets. Panattoni has also decided not to pre-let the premises. REALOGIS has been commissioned with marketing the properties. “The fact that we have been able to press ahead with these projects unimpeded by the COVID-19 pandemic is proof of our highly flexible and dynamic position, which allows us to continue to operate effectively and in accordance with governmental requirements,” enthused Fred-Markus Bohne. “We are proud to have achieved this standard and will work to maintain it.”