An affiliate of Tilad, a Gulf-based multi-family office, has acquired the Hermes Logistics Center, currently under construction in Löhne, from ECE. Completion of the logistics centre is scheduled for spring 2016. Until then, ECE will remain responsible for completion as well as owner of the project.
The project will comprise three connected buildings totalling approximately 100,000 m² of logistics space and approximately 7,000 m² of office. The main warehouse, the so-called distribution centre, will consist of eight sections which will be connected to the cross-dock system (HUB) by a connecting building, which comprises two further sections. The property is intended to meet the standards for a silver certificate of the German Sustainable Building Council (DGNB).
The logistics centre is fully leased on a long term basis to Otto (GmbH & Co. KG) and will be used by Hermes Fulfilment GmbH and Hermes Einrichtungs Service GmbH & Co. KG, two subsidiaries of Hermes Group.
ECE was advised on the transaction by Jones Lang LaSalle and trûon Rechtsanwälte LLP. Tilad was advised by CBRE and DLA Piper Frankfurt.