Bülach: CS logistics fund expands for Fiege
The German logistics company has signed a ten-year lease for the new complex, for which the fund is investing almost CHF 40 million.
The CS REF Logistics Plus real estate fund is expanding the logistics park in Bülach (ZH). The logistics building has a planned investment volume of CHF 39.3 million and a gross yield of 5%. The realization of a logistics property through in-house development in existing buildings is to be completed in just 22 months, made possible by the modular principle. A ten-year lease agreement has been concluded with the German logistics company Fiege AG for a period of ten years.
The expansion took place just three and a half years after completion of the last property in the logistics park, the UPS parcel distribution center. The extension, which is now under construction, replaces an old logistics hall from 1966. The two-storey goods distribution center, which also houses offices and ancillary rooms, has an area of 17,700 m² and is located in the immediate vicinity of the freeway and Zurich Airport. The building is pre-certified to the DGNB Gold standard.
"As usual, we attached great importance to a high degree of third-party usability during planning and implementation," says fund manager Sascha Paul. For example, an existing railroad siding, which the tenant does not need, was only temporarily decommissioned. Construction began on October 1, 2022 and completion is scheduled for August 1, 2024. The fund is increasingly focusing on industrial properties for new acquisitions, as Paul also explains. (aw)
