Logistics real estate developer and investor Panattoni Europe has been contracted to develop a new insulation production facility in Heinsberg, North Rhine-Westphalia, for Firestone Building Products, LLC, a leading provider of commercial building products and solutions. The contract documents were signed with the Mayor of the town of Heinsberg, Wolfgang Dieder, in November in the presence of key parties involved. Construction is expected to begin in January 2017 and completion is scheduled for September the same year. The agreement was brokered by the advisory agency JLL.
The new building will be constructed on a site of approximately 60,000 square metres of which more than half will be used for production and warehouse area. This is the first insulation products production and logistics site to be developed in Europe for the long-term tenant. Firestone Building Products is part of Bridgestone Americas, a subsidiary of the world’s largest tyre and rubber company.
Fred-Markus Bohne, Managing Partner of Panattoni Europe, points out, “We are delighted that Firestone Building Products is expanding in Europe and that Panatonni has been employed to develop a facility according to the company’s requirements.”
The project developer knows this location very well. In the neighbouring town of Hückelhoven, Panattoni Europe is currently implementing a significant logistics facility for Jago AG. With its location 33 kilometres west of Mönchengladbach and 60 kilometres south-west of Düsseldorf, Heinsberg offers excellent transport connections and well-qualified employees. Wolfgang Dieder, mayor of Heinsberg, explains, “This region is very attractive from the logistics point of view and we are delighted to build a new facility here. This project will generate benefits for the local economy of Heinsberg.”