Nrep, Urban Partners’ real estate investment platform, via logistics development and management business Logicenters, and joint venture partner GARBE Industrial Real Estate GmbH, have acquired a 20,000-square-meter (215,278-square-foot) site in Leipheim, Germany, for €17 million ($19 million) to construct a sustainable logistics center with a total area of approximately 11,600 square meters (124,861 square feet). Construction is scheduled to begin in second quarter 2025.
"We are very pleased to work with GARBE again on this project,” said Wolfgang Ködel, head of Nrep Germany. “Logistics properties are a central part of our investment strategy, in which we focus on sustainable solutions and a customer-centric approach."
The site is part of a former air base, where remnants of its military use, including individual buildings, remain intact. After the base was decommissioned, the site was converted into the 112-hectare (277-acre) intermunicipal industrial estate
