Kajima secures new tenant, Riess-Ambiente, during the second phase of development at logistics hub in Hamburg, Germany

Kajima and Savills Investment Management have developed a strong presence in the logistics and distribution hubs market in Hamburg, Germany. The development has been an ongoing project for Kajima, with two further phases currently under construction, Kaltenkirhen II and Kaltenkirchen III, and plans for all developments to be finalised by mid-2022.

Following successful leasing during phase one of development to one of the world’s largest online retailers, the logistics asset continues to be portrayed in a positive light after securing new tenants, Riess-Ambiente, a designer furniture company, during phase two of development. Riess-Ambiente will be housed across two warehouses totalling to 43,000 sqm for a term of 18 months. The new tenants will be taking occupation of hall four in September 2021 and hall five in February 2022.

Eleanor Bolitho, Asset Manager at Kajima said: “Kajima is extremely pleased to welcome Riess-Ambiente to Kaltenkirchen, Phase II, as part of their long term relocation from alternative premises around Hamburg. The success of this project and the Riess-Ambiente lease is reflective of strong demand in the Hamburg logistics market, a market we believe is one of the prime logistics hubs in Europe and key for Kajima’s continued European logistics expansion.

Riess-Ambiente has leased over 43,000 sqm across two warehouses for a term of 18 years. They are already in occupation of Hall 4 and will take occupation of Hall 5 in Q2 2022.”

Three out of five of the buildings are now fully let, with most halls under construction. The e-commerce market has rapidly grown since the Coronavirus pandemic which places Kajima in a prime position to make a footprint in Europe’s logistics sector and futureproof the company.