US real estate developer makes substantial investment in Northern Hessen

Scannell Properties, a privately owned, international commercial real estate developer based in the United States, has acquired a sprawling 111,000-square-meter plot in the Steinmühle Business Park in Diemelstadt in Northern Hessen. The company's vision is to establish the 'Logistics Park Diemelstadt', which will feature six large, flexibly designed facilities targeting high-revenue companies.

The Steinmühle Business Park in Diemelstadt boasts good access to interstate highways A44, A33, and A7, providing excellent links to the economic hubs of Dortmund/Ruhr, Kassel, Paderborn, and Bielefeld. The prime location is expected to be a key selling point.

Scannell Properties plans to develop space for tenants in an area covering up to 68,000 square meters. Construction will begin in the fourth quarter of 2023, with the first occupants moving in as early as the end of 2024. The facilities will comprise six large spaces that can be divided and rented out as needed.

The construction plans include a sustainability concept aimed at reducing carbon emissions. For example, the facility will be equipped with state-of-the-art heat pump technology. In addition, Scannell Properties has allocated about €4 million for green roofing and photovoltaic systems along with LED lighting, gray water usage, and electric charging stations. The planners will also seek a gold DGNB certificate from the German Sustainable Building Council.

Diemelstadt's Mayor, Elmar Schröder, welcomed the new investment, highlighting that it will significantly boost the city and the region. Due to excellent cooperation, the parties completed the purchase agreement in three months.