Tishman Speyer buys logistics sites in Duesseldorf, Germany

Tishman Speyer and May & Co. have signed a binding purchase agreement for two last-mile logistics sites in the Düsseldorf industrial market by way of an off-market transaction.

The sites sit at the heart of the Rhine-Ruhr region, one of Europe’s most populated areas, with a dense network of interconnecting roads, railways and shipping routes, including Germany’s fourth-largest airport.

The properties are located in Düsseldorf Heerdt and Ratingen within the Düsseldorf region and have a total plot area of 60,000 square meters (646,000 square feet). Both sites are approximately five minutes away from the nearest motorway.

As a result of the acquisition, Tishman Speyer plans to develop two buildings with a total of approximately 36,000 square meters (387,500 square feet) of state-of-the-art, ESG-compliant distribution space. Development is estimated to commence before the end of 2024. Construction is expected to be completed by the end of 2025.

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