Invesco Real Estate to build class A logistics hub near Vienna, Austria

Invesco Real Estate, the global real estate investment business of Invesco Ltd. has further increased its exposure to the European logistics sector with the acquisition of a 45,000-square-meter (tk-square-foot) freehold site in Traiskirchen, Austria. The acquisition has been completed by Invesco’s European Value Add Fund II (EVAF II).

The Tribuswinkel site, located 20 kilometers (tk miles) south of Vienna, did previously host an existing property which has been demolished and will be replaced by a 31,000-square-meter (tk-square-foot) class A logistics facility comprised of four independent units. Set to complete in third quarter 2024, the site is being developed in conjunction with Propel Industrial, a Vienna-based developer that specializes in the development of prime logistics assets.

The new building will target the highest sustainability standards and a minimum ÖGNI Gold certification, the Austrian equivalent to the German DGNB. It will utilize a heat pump heat