Panattoni sells fully-leased 70,000 sqm Logistics Park Hamburg to J.P. Morgan AM-Cromwell JV

Panattoni has sold its fully-leased Panattoni Park Hamburg to a joint venture between J.P. Morgan Asset Management and Sydney-listed Cromwell Property Group. Strategically located to the north of Hamburg in one of the strongest economic regions in the country, the park consists of five halls plus externally leased parking spaces totalling 80,163 sqm with ‘Gold certification’ from the German Sustainable Building Council (DGNB) in recognition of its sustainable, energy-efficient design.

The logistics park that has been completed in Q4 2022 is located on a 157,900 sqm site and comprises ca. 70,000 sqm of prime logistics space, with a maximum floor-bearing capacity of five tonnes/sqm and a clear internal hall height of 10 metres. The asset is leased to a range of e-commerce tenants with long-term commitments.

JLL acted on behalf of Panattoni to deploy JP Morgan and Cromwell Property Group as buyer. The buyer was advised by Colliers and Hengeler Mueller.