Gazeley buys land for logistics development in Stuttgart (DE)
Tuesday 5 June 2012
Gazeley, the global logistics real estate developer and investor, has bought about four hectares of land near Stuttgart. Strategically located, the land offers space for up to 20,000 m² of high-quality logistics and distribution space.
Gazeley acquired the site from EnBW Real Estate GmbH, the real estate subsidiary of EnBW Energie Baden Wuerttemberg AG. It is located in around 17 acres of 'Energie und Technology Park Marbach', about 20 kilometers north of the state capital, and is the largest area immediately available for logistics development in the Stuttgart region.
Gazeley is confident that due to current strong demand a pre-letting can be achieved in the next few weeks.
The parties have agreed not to disclose the purchase price.