CTPark Weiden is Fully Let With Latest Signing Ahead of Its Redevelopment Completion in Q3 2024

• Latest lease with international textile company Josef Witt GmbH (Witt) totals 15,721 sqm
• Signed tenants at CTPark Weiden include Sirl Interaktive Logistik, MSA Motor Sport Accessoires and INOTECH Kunststofftechnik
• The comprehensive redevelopment of the 53,000 sqm brownfield site includes extensive refurbishment with partial new warehouse construction and installation of photovoltaics
• Start of construction is scheduled for the first quarter of 2024, with completion and operation anticipated in the third quarter of 2024

STUTTGART, Germany--(BUSINESS WIRE)--Regulatory News:

CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has fully leased CTPark Weiden with its latest tenant Josef Witt GmbH (Witt), an international textile trading company based in Weiden. At CTPark Weiden, Witt has leased a modern dispatch warehouse including a photovoltaic system in a newly built warehouse. Witt will use approx. 12,500 sqm of warehouse space, 221 sqm of office space and approx. 3,000 sqm of mezzanine space in the newly revitalized CTPark.

The 83,000 sqm site at Dr.-Kilian-Straße 12 in Weiden in der Oberpfalz has been owned by CTP since spring 2023. The planned redevelopment includes a comprehensive refurbishment of the existing buildings which provide a rental space of around 45,000 sqm (logistics space 43,000 sqm, office space 2,000 sqm and ancillary space). The size of the external warehouse is 8,000 sqm. Anticipated rental income for CTPark Weiden park is around €3.1 million per annum.

Kerstin Harms-Sudarma, Head of Division, Josef Witt GmbH said:

“We are delighted to have found a reliable partner in CTP. A decisive factor in our decision in favour of CTPark Weiden was the possibility of centering our storage space at the Weiden site and thus reducing our internal transport routes. CTP’s innovative sustainable approach for the redevelopment of the existing buildings at the site convinced us and we are very pleased to be making use of the refurbished brownfield site."

In addition to Witt, two local companies, MSA Motor Sport Accessoires GmbH and INOTECH Kunststofftechnik GmbH, have signed leases at CTPark Weiden and Sirl Interaktive Logistik GmbH has taken a lease at the redeveloped park from which to base Heineken's new distribution centre in Germany.

Sirl Interaktive Logistik has leased a total area of around 28,000 sqm (17,036 sqm warehouse, 2,264 sqm mezzanine, 8,000 sqm outdoor warehouse, 708 sqm office at CTPark Weiden, MSA Motor Sport Accessoires uses a total of around 5,700 sqm (4,353 sqm warehouse, 1,320 sqm mezzanine, 25 sqm office) and INOTECH Kunststofftechnik rents a total of around 2,000 sqm (1,997 sqm warehouse, 10 car parking spaces).

Alexander Hund, Managing Director Construction & Development, CTP Germany, said:

"We are very pleased to have fully let our new park in Weiden well ahead of its completion – a great reflection of CTP’s track record in delivering outstanding ecosystems which boast a multitude of infrastructure and building types to cater to diverse industry needs. Our latest signing with Josef Witt GmbH confirms the strength of our redevelopment approach at CTPark Weiden as well as the continuing demand for high quality long-term rental space in the region."

CTP began renovation of the brownfield site in the third quarter of 2023, during which 10,500 sqm was demolished. Construction is due to start in the first quarter of 2024, with completion and operation scheduled for the third quarter of 2024.

ABOUT CTP

CTP is the largest listed owner, developer and manager of logistics and industrial real estate in terms of gross leasable area, with 11.2 million sq m. GLA in 10 countries (as of 30 September 2023). The company certifies all new buildings under BREEAM at 'very good' or above and has achieved a negligible-risk ESG rating from Sustainalytics, reaffirming its commitment to sustainability. For more information, please visit: www.ctp.eu.