Logistics real estate developer and investor Panattoni Europe has been awarded a contract by Jago AG to develop the currently largest logistics facility in Germany. Construction work will begin this month. The logistics centre for the e-commerce company, with an area of 120,000 square metres, will be built in the Industriepark Rurtal commercial zone near Hückelhoven which offers a total area of 200,000 square metres. The international real estate consultancy firm CBRE acted as advisor to Jago for the tendering procedure and selection of the developer for the new distribution centre.
Panattoni Europe is investing a sum in the high double-digit million-euro range in the construction of this facility. "This logistics centre is the lighthouse development for the Industriepark Rurtal and at the same time with its dimensions also a lighthouse project for the logistics real estate market in Germany. We have succeeded in achieving a virtually perfect combination of customer requirements and our sustainable investment criteria. For Jago, the new facility provides maximum flexibility, allowing for any modifications in logistical processes. The halls can be divided into twelve sections and thus offer optimal conditions for various secondary uses," Fred-Markus Bohne, Managing Partner of Panattoni Europe, explains. Due to the size of the complex, construction will take place in four stages: During the first stage, 40,000 square metres of warehousing and logistics space and 1,450 square metres for office and social areas will be developed. This stage is scheduled for handover to Jago in March 2016. The other building stages will follow consecutively and the entire project is due to be completed in August 2017.
With this new logistics centre, Jago is paving the way for the extension of its international e-commerce business. Goran Jakovac , CEO and founder of Jago, comments, "The construction of larger, modern logistics facilities is necessary for our expansion course. With Panattoni Europe, we have found the ideal partner for implementation of this project. In future, our customers will benefit from even faster delivery times." Fred-Markus Bohne adds, "Hückelhoven's central location is ideal for e-commerce. It ensures smooth and swift distribution to Germany and the Benelux countries as well as providing a speedy link to the ARA ports." Jago sells articles in the segments home & garden, do-it-yourself, sports and leisure, as well as pet supplies and toys. The products are mainly produced in Asia and transported by container ships. Thanks to its proximity to the container port in Born, Netherlands, with connections to the ports of Rotterdam and Antwerp, the location in the Industriepark Rurtal will reduce transport costs considerably.
Panattoni Europe has concluded a long-term lease agreement with Jago. For Hückelhoven, this new business settlement means the creation of about 800 new jobs in the medium term.
About Jago AG
JAGO AG, founded by CEO Goran Jakovac, is one of the largest e-commerce companies in the German-language internet. Jago is also established in 29 European countries. The company was formed in 2005 and has an excellent reputation among consumers. This success is founded on a large range of the latest products, excellent prices and a shop and logistics concept which leaves hardly any customer wish unfulfilled. JAGO AG currently has about 500 employees and its main office is located in Stuttgart.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
Please visit our website at www.cbre.com