Wal-Mart has been trading as a retailer in Germany since the mid-1990s, and two years ago it acquired Gazeley through the takeover of its parent company, the UK supermarket operator Asda.
The Magna Park Berlin site is close to Potsdam in Brandenburg, 20 miles south west of Berlin. It fronts onto the A10 Berlin ring road. Work on a first phase of development is expected to start before Christmas, with two speculative distribution buildings of 80,320 and 140,000 sf. Quoting rents will be DM 13 per sq m per month ($7 per sf per annum)
The Magna Park format was pioneered at Lutterworth in Leicester where Gazeley has built Europe's largest dedicated distribution park providing over 5 million sf on 550 acres. There is undeveloped land capable of taking another 2 million sf. Occupiers on the UK park include Asda Wal-Mart, TNT, Nissan, Toyota, Honda, Lidl, Aiwa, Britvic, BSS, British Telecom, Shell, P&O, CML and the Disney Store.
Gazeley's Chief Executive John Duggan said: 'We have spent the last year researching the European market to establish where the key areas are for pan-European logistics hubs. Berlin come out as one of the top locations in Germany as it serves both national and international markets.'
Jones Lang LaSalle advised Gazeley on the purchase of the site and has been retained as letting agents.
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