Family-run, Munich-based GIEAG Immobilien AG has let its approx. 23,500 sqm logistics property “Erfurt II” completely and on a long-term basis to a renowned online mail order company well ahead of the planned completion. The building activities are carried out on schedule and will be completed in August 2019.
The logistics property is located on the site of the International Logistics Centre (ILZ) in Erfurt, in close proximity to the 67,000 sqm logistics property built by GIEAG in 2010 which is let on a long-term basis to the logistics service provider for the electronics industry, LGI.
The ILZ business park is located to the North of the Erfurt city area and benefits from an excellent traffic infrastructure with a direct connection to the A71 motorway. The two most important airports for cargo handling, Frankfurt am Main and Leipzig/Halle, can both be reached by truck in less than three hours.
Thomas Männel, member of the Executive Board of GIEAG Immobilien AG, comments: “The fact that we have been able to let our second large logistics property in Erfurt to a renowned logistics group on a long-term basis, already well ahead of the completion of the construction work, speaks for the quality of the real property and our good site selection. The successful letting underpins once more our expert knowledge regarding planning and building modern, needs-oriented real properties and testifies to our outstanding network.”
Sven Häfner, Technical Director of GIEAG Immobilien AG, adds: “Our new real property in Erfurt is likewise tailored to the specific needs of large logistics companies. We have again been able to gain a renowned group as a lessee because of the sustainable and modern building concept as well as the excellent location.”
GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange as well as the Frankfurt Stock Exchange and Xetra. By combining the three asset classes - office, residential, logistics - and the two service areas of development and portfolio management, the company offers stability that is unique in the market. The GIEAG team of experts is a guarantor for innovative and forward-looking concepts.
Over the past 22 years, GIEAG Immobilien AG has developed and optimised a large number of real estate projects with areas of up to 145,000 square metres and an individual investment sum of 15 to 150 million euros. Partnership, transaction security, perseverance and speed are the basis of sustainable value development for GIEAG.