Nuveen Real Estate has acquired a modern distribution center in Hamm, Germany, for its European logistics platform.
The cross-dock distribution center, which was built in 2020, is leased to a leading pharmaceutical logistics company and provides around 9,000 square meters (97,000 square feet) of rental space. With two temperature-controlled areas, the center enables the storage and shipping of special goods, particularly medicines. The tenant, therefore, mainly serves customers in the pharmaceutical goods sector from the asset and aims to supply more than 15,000 pharmacies in the coming years.
Christian Sliwa, investment manager at Nuveen Real Estate, said, “Against the backdrop of the ongoing pandemic, the need for storage and distribution of medicines and vaccines has led to increased demand for high-quality logistics properties. The distribution center in Hamm is therefore an important strategic addition to our portfolio, so we can aim to help our clients to benef
