Transactions - NOVEMBER 20, 2020

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PATRIZIA sells newly developed logistics park in Berlin

by Released

PATRIZIA AG has sold Schönefeld Airpark, a newly developed logistics park in Berlin, to CBRE Global Investors.

The financial terms were not disclosed.

PATRIZIA acquired the site, which is located 1 kilometer (0.6 miles) north of the new Berlin Brandenburg Airport in Schönefeld, Germany, in 2014 and has constructed more than 80,000 square meters (861,000 square feet) of leasable space across four phases alongside development partner, Verdion Group. The units range in size from 5,000 square meters (53,800 square feet) to 20,000 square meters (215,000 square feet).

The site is leased to seven tenants including Dachser logistics and Bringmeister, the food delivery service of Edeka. PATRIZIA’s asset management team carried out leasing activity in conjunction with Verdion and achieved full leasing on the completion of each speculative phase over the development. The final phase was completed in fourth quarter 2020.

Stuart Reid, managing director of real est

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