Crossbay has leased 14,000m² (c.150,600ft²) of last-mile logistics space to Sportstech, an e-commerce company specialising in sports equipment, in south Berlin.
Realogis advised Crossbay, the urban logistics strategy of pan-European real estate investment manager MARK Capital Management, on the transaction.
The asset, built in the early 2000s, is located within the GVZ Grossbeeren and offers loading docks accessible from both sides to ensure traffic flow for high vehicle frequencies handling incoming and outgoing goods.
Crossbay is currently undertaking a refurbishment programme to convert the former 35,000m² (c.376,000ft²) single-tenant asset into a multi-let structure.
The remaining lease areas will meet the demand from occupiers seeking spaces starting from approximately 3,000m² (c.32,200ft²).
Crossbay has been investing in Germany since 2021 and currently manages more than 180,000m² (c.1,930,000ft²) of space following acquisitions in Munich, Frankfurt, Hamburg, Düsseldorf and Berlin on behalf of Crossbay II.
Vice president at Crossbay, Trung Nguyen, said: “Despite the current challenging market environment, this lease represents further vindication of our strategy to aggregate and modernise existing last-mile assets in gateway cities that are highly attractive to occupiers seeking proximity to major urban locations such as Berlin.”
