State-of-the-Art Warehouse Development

In November 2024, EQT Real Estate ('EQT') simultaneously closed the acquisition of an 8-hectare greenfield site in Meppen, North-West Germany, and negotiated a lease agreement with CEVA Logistics ('CEVA', a leading global third-party logistics provider) for the build-to-suit development of a best-in-class, 55,000 square metre warehouse (the 'development'). The deal totals an estimated investment volume of c.€65mn.

The land acquisition, lease agreement, General Contractor agreement, and tenant’s end-user agreement were negotiated over a two-year period and closed back-to-back, demonstrating EQT’s logistics expertise to creatively structure a deal benefiting all stakeholders.

EQT was able to deliver this result through the extensive collaboration of its team with the Meppen municipality, CEVA and the General Contractor. EQT first sourced the land plot directly from the Meppen municipality, unlocking cost effective pricing for a high-conviction pan-European distribution location to serve the occupier’s needs. Subsequently, utilising EQT’s extensive development track record, the team ran a competitive General Contractor tender, to design a future proofed warehouse with best-in-class specifications tailored to CEVA’s needs.

CEVA’s dedication to Meppen is highlighted by their agreement to a long-term lease, consolidating multiple locations across Germany into a new, high-specification distribution facility and creating up to 150 new jobs on site plus the use of local suppliers which will have a positive benefit on the area.

The modern, state-of-the-art big-box development will reach practical completion in Q4 2025 and will feature including heat pumps, outdoor employee facilities including recreation- and well-being areas, and a 3.4 MW Solar Plant on the roof. Consistent with EQT’s ethos of "doing good is good business", the asset will include strong sustainability credentials targeting DGNB Gold status and the energy requirement will be largely self-sustained by a photovoltaic system. Additionally, the roof area will include extensive greenery which strengthens rainwater retention.

This deal reflects EQT’s strong German track record, local development expertise and creative occupier solutions. With more than 1,000,000 sqm under management in Germany and having committed to more than 500,000 sqm of future German developments, EQT is one of most active investors and developers in the German logistics market and is a preferred build-to-suit partner for many leading logistics companies.