- Joint venture speculative development of two facilities in the Rhine-Ruhr region
- Trammell Crow Company (“TCC”) will act as the development manager for the project
- Both sites designed to achieve BREEAM Excellent upon completion
London, 11 April 2024 – Blackbrook, a specialist European real estate investor focusing on future-proof supply chain infrastructure, is expanding its portfolio in Germany through the speculative development of two new logistics facilities in Kerpen, with joint venture partner Trammell Crow Company acting as development manager.
The two class-A logistics facilities will total 28,000 sqm and will benefit from 12 metre clear heights and a 6 tonne floor load capacity. Both sites are expected to achieve a BREEAM Excellent certification upon completion.
Located 30km west of Cologne, Kerpen is in the prime Rhine-Ruhr logistics region of Germany, the second largest economic region in Europe and one of the top 10 globally. Its cross-border connection links and proximity to the major population centres of Europe have made the region a top location for pan-European distribution. The region suffers from an acute lack of supply with Class-A logistics vacancy at close to zero.
The new facilities are 40km from Cologne Bonn Airport, the third busiest cargo airport in Germany, and the Port of Cologne-Niehl on the River Rhine, one of the world’s busiest freight rivers. Two of Germany’s core arterial routes are in close proximity: the A4 motorway which runs east-west, connecting the Dutch border to Poland, and the A3 motorway, which runs across Germany from the Austrian border to the Netherlands. Approximately 83 million people can be reached within a 4.5-hour drive of the sites.
The development is in joint venture with Trammell Crow Company (TCC), a leading global developer and investor in commercial real estate, which will act as development manager. TCC has European offices in London, Paris, Frankfurt, Dusseldorf, Hamburg, Leipzig, Madrid, and Barcelona.
This transaction follows Blackbrook’s recent sale-leaseback and speculative development transaction in Erfurt announced in February 2024.
Jon Strang, Managing Director of Blackbrook said: “This is a unique opportunity for Blackbrook to invest in one of Germany’s strongest, but materially undersupplied, logistics markets. The Rhine-Ruhr region boasts excellent national and international transport connections, which not only explains why it has become headquarters for many major international companies, but why vacancy rates are near all-time lows. Our new assets will address the strong long-term demand in the region.”
Arvi Luoma, Co-Founder and CEO of Blackbrook added: “We are excited to build on our momentum this year and further strengthen our core European logistics portfolio and specifically in partnership with TCC, a global leader in commercial real estate development. These assets are being built to meet the latest occupier requirements and ESG standards, in a prime logistics market where demand continues to far exceed supply, making this investment fully in line with Blackbrook’s strategy to bring future-proof supply chain infrastructure to Europe’s most under-served markets.”
Maximilian Moser, Senior Business Development Manager at Trammell Crow Company noted: “This latest addition to our development portfolio in Germany aptly demonstrates our wider strategy in Europe: namely, creating prime assets with strong sustainability credentials in strategically important locations at an excellent cost basis, all while partnering with some of the most highly regarded names in real estate. Given its strong fundamentals, we expect these new facilities to be of significant interest to prospective occupiers and look forward to working with the team at Blackbrook to achieve exceptional results.”