LogiReal News Portal

W. P. Carey Inc. a real estate investment trust announced today that it has acquired the main European distribution center of the Tommy Hilfiger Group from its current landlord, Aspen Real Estate Investments BV.

The IVG Garbe Logistik fund has made its first real estate acquisitions in the shape of two logistics properties near Stuttgart and in Hamburg. The total transaction volume for the properties is around €60 million.

In today's Property Market Differentials briefing, Legal & General Property's (LGP) research team highlights the opportunities emerging for logistics property from structural change within the e-commerce industry, including challenges to traditional lease structures, emerging locations, more creative approaches, and greater consolidation and polarisation of retail operators.

European retailers will need up to 25 million square metres of additional logistics space over the next five years, according to a new report by Jones Lang LaSalle. This equates to five million square metres of logistics space each year - enough to more than cover the whole of New York’s Central Park - for each of the next five years.