(COPENHAGEN) – Hines, a global real estate investment, development, and property manager, together with an institutional investment partner, has acquired 502,800 square meters of land to develop a three-phase best-in-class logistics facilities park, Hub 65, located in Kolding, Denmark.
In response to continued global demand from occupiers for prime logistics space in the Nordics, the partnership will fund the development of state-of-the-art warehousing in Kolding currently expected to comprise three phases with flexibility to accommodate customer demand. Each stage will be developed to a high specification, targeting a globally recognized ESG certification. The project aims to deliver 129,600 square meters of modern logistics space, providing flexibility for individual tenant requirements.
The project is currently underway, working with the municipality of Kolding to preserve archaeological findings in conjunction with the Museum Sønderjylland. The first stage of the development which will deliver c.50,000 square meters of prime logistics space is anticipated to be ready for occupation in Q2 2025. Full project completion is expected to be during 2028. Stender Innovation is Hines’ development partner. Having taken the project through the municipal planning process Stender will support Hines in project delivery.
Kolding is situated in the ‘Triangle Region’ of Denmark, a prime logistics hub benefiting from a central domestic location with 41% of the Danish population accessible inside an hour1. It also provides strong connectivity to Germany, Norway and Sweden, and is close to both E45 and E20 highways in Denmark, the principal national crossroads of Denmark.
Hines has significant international experience in logistics, completing €797 million of logistics transactions in 2022 across Europe, with Hines’ European logistics AUM now standing at €3 billion2. In Denmark, Hines has been actively investing in logistics assets such as in the region of Greve in Copenhagen.
James Robson, country head - Nordics, at Hines, commented: “We’re looking forward to developing what we believe will be the leading and one of the best-located logistics parks in Denmark. Our intention is to service the needs of occupiers by delivering state-of-the-art, flexible logistics space. Furthermore, to secure this off-market opportunity in the number one logistics location in Denmark is testament to our local presence and deep market expertise.”
Hines’ legal advisors on the transaction were Lundgrens Advokatpartnerselskab.
1 Source trekantomraadet
2 Hines data correct as of 30 Sept 2022
Hines is a global real estate investment, development, and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling over 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 79 cities in 14 countries. Hines oversees investment assets under management valued at approximately €25.3 billion and provides third-party property-level services totaling 4.7 million square meters in Europe, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.
About Stender Innovation
Stender Innovation, based in Kolding, has a large number of developments all over Denmark.
Stender Innovation specialises in large “green field” developments in Denmark. Over the years Stender innovation has developed significant “Logistic projects” in the most attractive areas along the Danish highways. HUB 65 is a “flagship development” by Stender Innovation.