Advanced Amazon logistics properties change hands
24 January 2020
Avison Young advised Pacific Asset Management Co and a consortium of Korean capital with Savills Investment Management in the purchase of two Amazon logistics properties in Dortmund, Germany, for EUR 140 million, from Gulf Islamic Investments LLC (Dubai) and Rasmala Investment Bank.
The assets have a total lettable area of 88,884 sq.m. and form a logistics hub let on long-term lease contracts to Amazon.
At the time of their opening in 2017/18, the buildings, which were the first highly automated inbound crossdock centres in Europe, were considered Amazon's most modern logistic centres worldwide.