Logicenters by Urban Partners and HIH Invest have acquired another development in the Port of Hamburg. The approximately 117,280 sqm brownfield site will be named TriPort Hamburg, a modern logistics park benefiting from direct access to sea, rail and road infrastructure. The project represents the joint venture’s fifth investment and its second logistics investment in Hamburg in a short period of time.
Urban Partners, via its logistics development and management business Logicenters, and HIH Invest Real Estate (HIH Invest) have acquired another development site in Hamburg through their existing joint venture. A modern and highly flexible logistics park is being developed on a rare freehold site within Germany’s largest seaport and Europe’s third largest, with a planned total leasable area of approximately 77,000 sqm across three building components. This includes approximately 64,000 sqm of leasable indoor space, comprising around 54,700 sqm of warehouse, 6,600 sqm of mezzanine, 2,700 sqm of office, and approximately 14,000 sqm of industrial industrial outdoor storage area.
One of the building sections, providing approximately 45,000 sqm, is already fully leased. The remaining rental space of approximately 32,000 sqm will be jointly marketed by HIH Invest and Four Parx and can be leased in units starting at approximately 6,500 sqm. The brownfield site offers trimodal connectivity via road, rail, and the harbour basin, as well as direct access to the Elbe River via its own dock.
“With the acquisition of the site and the planned development of the logistics park in the Port of Hamburg, we are underscoring the importance of Germany’s logistics sector – particularly given the critical need for secure supply chains and resilient critical infrastructure. At the same time, we are sending a clear signal about the city’s appeal with our second project in a short period of time. The fact that 50% of the space has already been pre-leased on a long-term basis is a testament to the high quality of the location. Our continued collaboration with HIH Invest further highlights the strength of this partnership”, says Wolfgang Ködel, Managing Director and Head of Real Estate Germany at Urban Partners.
“With this transaction, we are underscoring our strategy of investing in first-class logistics locations that are highly attractive to our customers. This project stands out for its excellent location in Hamburg and its trimodal transportation access. It allows us to offer future tenants direct port and rail connections in addition to excellent road access”, adds Henning Kirchenkamp, Business Development and Commercial Manager at Logicenters by Urban Partners.
The project will be carried out in collaboration with developer Four Parx under a forward funding model and is targeting DGNB Gold certification as part of the brownfield redevelopment.
“This transaction marks the second project in the Hamburg logistics market that we are carrying out in partnership with Urban Partners. We are very pleased about this, and it reaffirms our focus on logistics sites with sustainable value-creation potential. At the same time, we are proud to be implementing another project with such an exceptional location in our home city of Hamburg”, says Lars Bothe, Head of Value-Add Investments at HIH Invest.
The logistics investment is funded by the Urban Partners NSF V Fund and follows the project in Hamburg-Billbrook. It marks the second logistics investment by Urban Partners and HIH Invest in Hamburg and the fifth transaction overall for their joint venture.
“With this project, we are securing one of the rare logistics sites directly at the port with trimodal connectivity and excellent integration into national and international supply chains. This enables us to develop modern logistics spaces that meet users’ growing demands for efficiency, resilience, and sustainability”, says Maximilian Tappert, Head of Transaction Management Logistics at HIH Invest.
Cushman & Wakefield advised the seller on the transaction, with legal counsel provided by Taylor Wessing. Ashurst conducted the legal due diligence on behalf of the buyer. Drees & Sommer provided technical advisory services. Leasing is being handled jointly by HIH Invest and Four Parx.