en.Wedoany.com Reported - Urban Partners and HIH Invest Real Estate (HIH Invest) have secured a logistics project development right in the Port of Hamburg through a joint venture. Located on the former site of Olenex Edible Oils GmbH near the Port of Hamburg, Europe's third-largest seaport, the project will be developed by Four Parx into a flexible-layout logistics park with trimodal capabilities. The park plans a total leasable area of approximately 77,000 square meters, comprising three building sections. Of this, about 64,000 square meters will be warehouse space, specifically including approximately 54,700 square meters of storage area, 6,600 square meters of mezzanine area, and 2,700 square meters of office space. An additional approximately 14,000 square meters will be used as industrial outdoor storage area.
In terms of leasing, approximately 45,000 square meters have been fully leased. The remaining approximately 32,000 square meters will be jointly marketed by HIH Invest and Four Parx, with a minimum leasable unit of around 6,500 square meters. The site is a brownfield development with trimodal connectivity via road, rail, and port waterways, providing direct access to the Elbe River and featuring its own ship dock.
The project is being advanced using a forward financing model. Plans include fossil-fuel-free technical equipment, heat pumps, high-efficiency LED lighting, smart metering systems, and on-site photovoltaic renewable energy systems. Additionally, the project will build modern charging facilities and mobility infrastructure for tenants and employees. The entire development will be carried out in accordance with the German Sustainable Building Council (DGNB) standards, targeting Gold certification.
Marcus Jungheim, Managing Partner of the Four Parx Group, stated that the Hamburg-Harburg project is creating a future-oriented, modern mixed-use site for port, industrial, and logistics purposes. The combination of trimodal connectivity, direct waterway access, and dedicated rail infrastructure offers a unique product proposition for the Hamburg market.
This logistics investment is being implemented through the "Urban Partners NSF V Fonds" fund and follows the Hamburg-Billbrook project. It marks the second joint logistics investment by Urban Partners and HIH Invest in Hamburg, bringing the total number of transactions in their joint venture to five. The sale of the former Olenex site was advised by Cushman & Wakefield, leasing of over 50% of the warehouse space was completed by Realogis, and legal advisory for the transaction was provided by Ashurst and Heuking Frankfurt.
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