Goodman Group (Goodman or Group), a global leader in the ownership, development and management of industrial property, recently acquired a 72,000 sqm site at bayernhafen Nuremberg. The Group will develop a 42,000 sqm logistics centre on the site and has secured two pre-lease agreements with logistics service providers STUTE and DB Schenker, with the remaining space to be developed on a speculative basis. Goodman’s total investment will be around €25 million.
With its latest project at bayernhafen Nuremberg, Goodman is expanding its footprint in one of the leading logistics locations in Germany. In the freight village, the Group already manages logistics properties for Kuehne+Nagel and DHL. After completion of the new construction projects, Goodman will increase its space at the port to around 84,000 sqm spread over five assets, with a total of 300,000 sqm of logistics space in the state of Bavaria.
“The commercial success of the Nuremburg project confirms our disciplined approach to land banking. Our purchasing decisions are based on consultations with our customers and our analysis of the market in order to secure the most attractive sites,” said Jordan Corynen, Goodman Regional Director for Germany, Austria and Switzerland. “We have secured additional prime locations throughout Germany, on which a further 457,000 sqm of logistics space can be developed.”
Agreement with STUTE Logistics
Shortly after signing a pre-lease agreement with DB Schenker for 16,500 sqm of warehousing space, Goodman also signed an agreement with logistics service provider STUTE Logistics, a 100-percent subsidiary of the Kuehne+Nagel Group. Goodman will provide 10,500 sqm of storage space, an additional 1,500 sqm of external storage space and 500 sqm for offices and social areas. The features of the twelve-metre-high facility include LED lighting throughout and insulated dark-tube radiators to reduce consumption costs. Once the property is completed, it will receive a silver certificate from the German Sustainable Building Council (DGNB).
New speculative development
To complete the logistics centre, Goodman is speculatively developing 13,000 sqm of warehouse space that can be divided into smaller units. The Group carefully selects its speculative projects and decided to take this step due to the strategic location of bayernhafen Nuremberg.
Handling 15 million tons of freight annually, bayernhafen Nuremberg is the largest multimodal freight village in southern Germany and one of the most important in Europe. It is also ranked as one of the top industrial parks in the country. The multimodal location offers water, rail and road connections and benefits particularly from a state-of-the-art container terminal for combined load transport.
Land banking strategy in Germany
Goodman has been pursuing a selective land banking strategy in Germany for a number of years, which has enabled it to provide customers with optimal property solutions. Goodman varies its approach to land banking, based on market and regulatory dynamics, in order to provide space in prime locations that often require lengthy planning and permitting processes. In addition to Nuremburg, another port-based project, Goodman Interlink Hamburg, will shortly be completed and will have 8,500 sqm of remaining space for lease. In total, Goodman has approximately 457,000 sqm available for development in key locations across Germany, including Brandenburg, Bremen, Hesse, Lower Saxony, North Rhine Westphalia, Saxony, Saxony-Anhalt and Thuringia.
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