Hines has acquired a 38,100-square-meter (410,105-square-foot) logistics property in Raunheim on behalf of its open-end Hines European Core Fund (HECF). Hines acquired the asset from the Dietz Group’s Bensheim for an undisclosed price.
The building complex was completed in 2016 and is in a prime location in the Rhine-Main logistics region in the immediate vicinity of Frankfurt Airport. The property is located in one of the most economically strong and densely populated regions of Germany, which forms a central hub for both the country and Europe more widely, with infrastructure connections across road, rail and air, but is characterized by a low supply of available logistics space.
In addition to storage areas with standard temperatures, the property also includes temperature-controlled areas for goods that are sensitive to both heat and cold and is characterized by building specifications that are above the market standard. The logistics company Kühne+Nagel is the
