IDI Gazeley Germany Announces Start of Speculative Development at Magna Park Kassel

Construction of new 25,000 sq m (269,000 sq ft) speculative logistics warehouse fully underway on the last available plot at its flagship German logistics park

FRANKFURT, 19 September 2014 – IDI Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics warehouses and distribution parks, has today announced the start of construction of a new 25,000 sq m (269,000 sq ft) sustainable warehouse located at its flagship German logistics development site Magna Park Kassel, Germany.

The project is being developed on a 5 hectare development plot in Kassel, a much sought after strategic logistics site location situated in central Germany in close proximity to the A7 motorway. It is expected that the new warehouse will be completed by the end of 2014.

The warehouse will comprise of 22,344 sm (241,000 sq ft) of logistics space, a 1,958 sm (21,000 sq ft) mezzanine area, 1,575 sm (17,000 sq ft) of external storage and 666 sm (7,200 sq ft) of office space, together with 21 HGV and 93 car parking space.

As with all new buildings developed by IDI Gazeley Germany, the property will be built in line with the German sustainable silver certificate standard.

Speaking about the development, Ingo Steves, IDI Gazeley Country Director Germany said, “We are pleased to be able to offer new modern logistics space by the further expansion of our successful Magna Park Kassel development site.Demand for large and sustainable distribution space is high across the whole region of Northern Hesse, and we are convinced that our investment strategy will attract strong covenant customers.”

Going on to say, “The smooth planning and approval process is further testimony of the excellent cooperation between IDI Gazeley and the communal planning authorities. Both parties worked hand in hand to get this project on track which will eventually generate new jobs in the region.”

Also commenting, Mr Andreas Güttler, Director of the communal authority Kassel Zweckverband, emphasized, “In total more than 1,200 jobs have been created in the Kassel Freight Village since 2003. We are pleased with today’s announcement which signals the next phase of development at one of Germany’s most successful logistics sites. We look forward to welcoming further new occupiers to the already successful location.”

As a result of its central location in the heart of Germany, Magna Park Kassel is ideally suited for logistics and transport operations. It offers excellent connections to the major North-South and East-West German motorways A7 and A44. From here, most locations in Germany can be reached in under five hours.

IDI Gazeley has developed six large warehouses at Magna Park Kassel, creating more than 200,000 sq m (2.2 million sq ft) of high quality, sustainable logistics warehousing for renowned national and international customers including Volkswagen, SMA and Rudolph Logistics.

In further comment about the announcement, IDI Gazeley Europe & China Chief Executive Officer Pat McGillycuddy said, “This project is further evidence of the increased development activity IDI Gazeley is undertaking to serve our growing customer community.”

For more information, please contact:

IDI Gazeley Frankfurt
Peter Mänz / Peter Tasch
069 / 96 22 19 -29 /-16; peter.maenz@grayling.com; peter.tasch@grayling.com

About IDI Gazeley
IDI Gazeley (Brookfield Logistics Properties) is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 60 million square feet of premier assets and prime land sites to develop an additional 87 million square feet of distribution facilities near major markets and transport routes in North America, Europe, and China. Under the Brookfield Logistics Properties umbrella, they are a part of one of the world’s largest and most sophisticated owners, operators and investors in real estate, infrastructure, renewable power, and private equity.

For more information, please visit www.brookfieldlogisticsproperties.com.

About Brookfield
Brookfield Property Partners is a leading owner, operator, and investor in best-in-class real estate around the globe. Our diversified portfolio includes interests in over 300 office and retail properties encompassing 250 million square feet, 47 million square feet of industrial space, 22,000 multi-family units, 11 hotels, and a 100-million-square-foot development pipeline. Our assets are located in North America, Europe, and Australia with a small presence in China, Brazil and India.

For more information, please visit www.brookfield.com.

Presseanfragen

Nordamerika
Reed Barrickman
+1.404.479.1626
reed.barrickman@idigazeley.com

Europa
Ged Brumby
Smithfield Consultants
+44 (0)20 7903 0674
gbrumby@smithfieldgroup.com

Rob Yates
Smithfield Consultants
+44 (0)20 7903 0625
ryates@smithfieldgroup.com