Industrial and logistics real estate
Panattoni Park Hamburg North sold
Panattoni, the project developer for industrial and logistics real estate, has sold its fully let Panattoni Park in the north of Hamburg to a joint venture between J.P. Morgan Asset Management and the Sydney-listed Cromwell Property Group.
Panattoni Park, strategically located in one of the country's strongest economic regions, consists of five halls plus externally rented parking spaces with a total area of 80,163 m². The park was awarded "Gold Certification" by the German Sustainable Building Council (DGNB) for its sustainable, energy-efficient design.
Completed in Q4 2022, the logistics park is located on a 157,900 m² site and comprises around 70,000 m² of prime logistics space with a maximum floor load-bearing capacity of five tons/m² and a hall height of 10 m UKB. The property is let to a number of e-commerce tenants on long-term leases.
JLL acted on behalf of Panattoni to the joint venture between J.P. Morgan and Cromwell Property Group. The buyer was advised by Colliers and Hengeler Mueller.
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