FRANKFURT, Germany – Boston-based Taurus Investment Holding, LLC, in joint venture with nextparx GmbH, an industry-leading German logistics developer has completed the development of a logistics park in Gross-Gerau, Germany, only 15 kilometers (9 miles) from the Frankfurt International Airport.
The facility is 100% leased to some of Germany's largest and most renowned companies. The major tenants are Metro AG and Kuehne & Nagel (one of Europe's largest logistic firms) in a joint venture with Lufthansa Service Holdings. Both tenants use the facility as food distribution centers to and from the Airport. Their leases for this mission-critical location have a term of 15 years and 10 years, respectively.
The facility was built in three phases. Phases I and II were finished in July and December 2011, respectively and have been occupied since completion. Phase III was completed in March 2012. It is leased and due for occupancy in Q1 2012. The three buildings offer a total of 28,336 square meters rentable logistic space, 42 loading ramps, and 2,607 square meters of office space as well as 200 parking spaces. The land parcel is 61,863 m² (665,893 sf) in size. The facility is equipped with state of the art technical standards such as automated loading docks with leveler platforms, sliding stainless steel doors, special flooring approved for food retailers, specific air circulation and air condition systems (+2°C). To increase long-term usage flexibility of the building, the ceiling height is over ten meters, which is approximately 20% more than in a standard warehouse facility in Germany today. The roof is covered with greenery which preserves the waterproof coating, improves the thermal insulation and reduces the wastewater costs.
The property utilizes a state of the art rooftop solar energy system producing 920,000 KWH p.a. and is Silver LEED certified by the German Sustainable Building Council or “Deutsche Gesellschaft für Nachhaltiges Bauen” (DGNB). The project is the first refrigerated warehousing facility in Germany with DGNB certification.
Erik Rijnbout, President of Taurus, noted that "Taurus is very pleased with the completion and stabilization of the project and our Partnership with the nextparx group. This investment is indicative of our long term confidence in Germany as the major logistic center in Europe and is the first project of many that we will develop together with nextparx. We look forward to further investments in this marketplace in the coming years."