Ingolstadt: CBRE investors starting logistics project in August
Construction work on the logistics project planned by CB Richard Ellis Investors (CBRE) and the developer Helios Properties in the "Interpark" commercial park in Ingolstadt can start before the end of the year. CBRE Investors announced that the construction permit for the distribution hall with 36,000 sqm of storage and 900 sqm of office space was issued ten weeks after the submission of the building application. Actual building is now to begin in August; completion is slated for spring, 2009. DTZ and the brokers of CB Richard Ellis have been assigned to market the speculative project. In addition to Ingolstadt, CBRE is also planning speculative logistics investments in Leipzig and Berlin. Taken together, the three projects are to develop up to 270,000 sqm of logistics area on a total area of 70 hectares. In total, these three projects comprise the biggest speculative logistics investment ever made in Germany, CBRE Investors claims. The projects belong to the CB Richard Ellis Strategic Partners Europe Fund III (SPE III).