Vengrove, a pan-European real estate investment manager, has acquired a logistics property in Wuppertal. The acquisition was made for an amount of EUR 14.70 million and comprises an area of 6,026 m². This acquisition represents the second within two months in the Rhine-Ruhr region, which is considered Germany's largest conurbation. The previous transaction in July involved a 16,571 m² property in Leverkusen for EUR 23.10 million. With these two acquisitions, the capital invested by Vengrove in this region totals EUR 37.8 million for a combined area of 22,597 m².
The recently acquired property was built in 2015 and is characterised by high-quality fittings. It is a cross-dock facility with 59 loading gates and a site utilisation of 27 per cent. A special feature is the extensive charging infrastructure for electric vehicles, which supports the tenant's increasingly electrified delivery fleet, as well as a photovoltaic system on the roof.
Location and Market Conditions
The logistics property's location is 25 km east of Düsseldorf and has direct access to the A1 motorway, a central traffic artery between Cologne and Hamburg. Further direct connections to the A43, A46 and A535 ensure excellent accessibility to the entire Rhine-Ruhr region. The logistics market in this region currently shows a vacancy rate of under 4 per cent, indicating a shortage of available space.
The tenant of the property is Deutsche Post Immobilien GmbH, the leasing company for Deutsche Post AG. This group will operate as a subsidiary of the listed DHL AG from 1 September 2026 and generated revenue of EUR 82.9 billion in the 2025 financial year. The property serves as an automated parcel distribution centre for Wuppertal and the surrounding area.
Strategic Direction and Parties Involved
The acquisition was made from an institutional seller and is the latest German addition to the VRE Evergreen Logistics Partners (VREELP) fund. This fund focuses on light industrial and logistics properties in urban agglomerations, along logistics corridors, and near transport hubs in Germany, France, and the United Kingdom. Founded in 2013, Vengrove has completed real estate transactions totalling more than EUR 1.2 billion and maintains offices in Munich, Paris, and London. The company pursues a vertically integrated structure with its own local teams and stakes in operating companies to unlock operational value potential.
Korbinian Kirchner, Partner & Head of Germany at Vengrove, described the Rhine-Ruhr region as exemplary for VREELP's location strategy, which targets dense conurbations with excellent transport links and a structural shortage of modern space. He emphasised that a property of this construction quality with the tenant's income security represents a clear gain for the portfolio and that Germany remains a core market for Vengrove. Will Hunting, Partner & Head of European Acquisitions at Vengrove, highlighted that the two acquisitions in the Rhine-Ruhr region reflect the conviction in the German market and the strength of the local team. He described the Wuppertal property as modern, high-quality, and leased to a creditworthy user with long-term space requirements, in a market with tight supply – precisely the criteria of the VREELP strategy.
Simmons & Simmons, Gleeds, and Nova Ambiente advised Vengrove. The transaction was brokered by CBRE.
