Nrep and evolutiq secure strategic commercial property in the Stuttgart metropolitan region
Nrep, with its logistics platform Logicenters and joint venture partner evolutiq are continuing their successful course and have signed the acquisition of Kornwestheim, another promising property in the Stuttgart metropolitan region for the development of a modern, multifunctional commercial property. Closing of the transaction will take place in 2025.
The new 15,000 s m logistics hub will consist of 13,000 sq ms of flexible production and storage space, alongside offices and communal areas. The building will be developed in accordance with best-in-class ESG criteria and is targeting DGNB Gold certification. Sustainable features will include photovoltaics, efficient heat pumps and green roofs and facades.
The site will become part of the JV’s existing portfolio of 4 sites and is due for completion by early 2027.
Wolfgang Ködel, Head of Germany, Nrep, said: “We are delighted to announce yet another successful project in a sought-after location which suits a deep tenant pool. Logistics continues to play a pivotal role in our strategic approach, as we deploy our proven knowledge and track record from this mature asset class in Germany. This project strengthens our portfolio and reaffirms our commitment to build a sustainable, modern logistics portfolio in the most attractive locations across Germany.”
Nicolas Rudzki, Managing Director of evolutiq GmbH, adds: “Kornwestheim is an excellent and strategically advantageous location in the Stuttgart metropolitan region. The swift and efficient execution of the transaction was only possible through the professional collaboration with our partner Nrep, the sellers as well as the constructive and cooperative dialogue with the city’s representatives. We are delighted to expand our steadily growing pipeline with this attractive project.”
Martin Ohly, Head of Logicenters, Germany said: “We are excited to start another great project with evolutiq. This project highlights Logicenters’ dedication to cutting-edge logistics properties that meet the needs of business in the region”
Martina Koch-Haßdenteufel, Mayor of Kornwestheim, commented: “We are delighted that a new, sustainable complex is being built in our commercial area north, offering optimal use for various businesses and industries. This new development is a flagship project for the commercial area, showcasting how commercial districts can be revitalized and modernized, even with limited space for development. We wish the project partners every success and hope that businesses in Kornwestheim will also benefit from this new, modern storage and production facility.”
With the combined expertise of evolutiq and Nrep’s logistics platform Logicenters as developers and asset managers, this project will be seamlessly integrated into the joint venture’s portfolio by Nrep and evolutiq and represents the consistent advancement of future-oriented logistics solutions.
The property offers excellent connectivity to the A81 and A8 highways, as well as proximity to Stuttgart container terminal and the Stuttgart interchange. The outstanding surrounding infrastructure provides quick access to the Stuttgart metropolitan area and nearby economic centers, making the location particularly appealing for companies in the production, light industrial and logistics sectors.