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International Industrial Properties sells German logistics property
International Industrial Properties (IIProp), a U.K. logistics platform owned by Madison International Realty and Griffin Capital Partners, has sold a logistics property in Germany for an undisclosed amount.
The logistics park in Neuenburg is a single-let property anchored by Hornbach Baumarkt, which operates DIY megastores in Germany and DACH region. The asset handles the distribution network of the tenant Swiss retail chain. The fully leased property encompasses a total area of 13,927 square meters (149,909 square feet) and is part of the Upper Rhine logistics hub.
The warehouse offers enhanced sustainable solutions such as low-emission photovoltaic systems, greenery on the roof, a rainwater recycling system and electric vehicle-charging stations.
The project is located next to the A5 highway, which connects to the metropolitan areas of Basel, Freiburg, Strasbourg and Stuttgart.
IIProp was developed in partnership with Panattoni and was established in 2