TA Europe has conducted Technical Due Diligence for Hoppegarten Property s.à.r.l. of the ‘Gewerbe- und Logistikpark Hoppegarten’, a logistic park located on the eastern periphery of Berlin, which comprised 13 logistic or office buildings, as well as a development site, on a total land plot of ca. 250,000 sqm (57.5 acres).
The buildings comprise of a mix of older buildings from the 1980s – pre-dating German unification in 1990 – as well as building units from the early 1990s, one building section from 2002 and also more recently constructed, modern logistic buildings. The latter two buildings comprise Logistikzentrum I -over 20,000 sqm gross floor area and completed in 2016 – and Logistikzentrum II, completed very recently in Spring 2018 and for which TA Europe provided additional technical support in terms of client’s representative and project monitoring.
The logistics park as a whole encompasses approximately 70,000 sqm of logistics and storage space, along with roughly 5,000 sqm office space, over the 13 existing building units, which is nearly fully leased and where the main tenants are Rhenus (logistics operator) and Kaufhof (department store).
In addition to the technical review of the condition and compliance of existing buildings on the site, the scope for TA Europe included a technical appraisal of the existing planning and zoning plan situation to recommend options for potential development of about 30,000 sqm new logistics space on the site.
As reported in the international property press, the transaction is one of the major logistic sector deals during the last twelve months in the Berlin area. The logistics park is located in the emerging logistics region Hoppegarten business park near Berlin, which has excellent transport connections via the adjacent B1 to the Berlin Ring (A10), just five kilometres away, as well as a beneficial location for the developing eastern areas of Berlin, such as the Adlershof Technology Park and the BER airport to the south.
TA Europe provided details of the facilities and installations to each logistic building on the site for comparison and benchmark purposes with industry standards in the logistics sector to assist the acquisition process and purchase negotiations. Our specialist team with senior property professionals, who have international logistic sector experience on numerous portfolio or single-asset logistic and light industrial sector acquisitions or asset management commissions, were able to fully support our client to assist them in reducing technical risks and enable the potential to generate more income and a higher value, as well as fulfil the development potential of the undeveloped areas on the ‘Gewerbe- und Logistikpark Hoppegarten’ site in future.
