Propel Industrial, an Austrian project developer, and Invesco Real Estate have fully let their first joint real estate project in Germany, the Logistikpark Langenselbold A45, even before its completion. The project, which was developed speculatively, is located east of Frankfurt am Main and has been leased long-term to two renowned companies. The full occupancy of the total 18,253 square metres of rental space, divided into hall, office and mezzanine areas, was achieved through rental agreements with H.Essers and WM Logistik.
The Belgian pharmaceutical logistics provider H.Essers had previously leased around two thirds of the space. In addition, the Hessian e-commerce logistics provider WM Logistik signed a long-term rental agreement for approximately 6,250 square metres. The roof area of the park has also been leased long-term to the energy company 1KOMMA5°, which operates a photovoltaic system there. Construction began at the end of September 2025 without any prior pre-letting, and full occupancy was achieved before the planned completion in early August 2026.
For Invesco Real Estate and Propel Industrial, this result confirms their approach of selectively developing speculatively in selected core markets. They thus provide space that local companies need for their growth and for system-critical logistics. Tenant-specific fit-outs are expected to be completed by the end of September 2026. Cihan Kilinc, Director Investment Management at Invesco Real Estate, stated that full occupancy before completion was the desired outcome for the Invesco Real Estate Europe III Fund, representing value creation through development in underserved core locations in cooperation with a partner who masters product, execution and market proximity equally well. Mr Kilinc emphasised that Langenselbold marks the start of the partnership with Propel Industrial in Germany and is an initial success that impressively underscores the potential of this collaboration. The tenant mix of pharmaceutical and e-commerce logistics also highlights the resilience of the location.
Location Quality and Sustainability Concept
The logistics park is located at “An der alten Straße 1” in the Langenselbold commercial area, east of Frankfurt am Main. This location is considered one of Germany's most sought-after logistics corridors. The two Grade-A buildings feature a clear hall height of 10 metres, a floor load capacity of 6 tonnes per square metre, 20 docking gates, including four jumbo gates, and three ground-level gates. The facilities also include WGK-III compliant sealing, integrated box-in-box cooling areas, ESFR sprinklers, and a fossil fuel-free heating concept. Smart metering and control technology, as well as the photovoltaic system on the roof, complete the concept. A DGNB Platinum certification and full compliance with the EU Taxonomy are being pursued.
Significance for Tenants and the Market
Maximilian Stepanenko, Investment Director of Propel Industrial, confirmed that the full letting of Logistikpark Langenselbold A45 before completion is a sign that demand for modern, sustainable logistics spaces continues to exist in selected core locations. He emphasised the ambition to create spaces that are economically viable, modern, and sustainable, in cooperation with communities, businesses, and regions. Such results arise from the collaboration of strong partners, namely Invesco Real Estate as capital partner, Goldbeck as general contractor, and Realogis Frankfurt as broker.
Christoph Pelosi-Wydra, CEO of WM Logistik, explained that the new site in Langenselbold creates a central and future-proof structure for the entire company. This enables more efficient service for customers from e-commerce and industry, as well as long-term optimisation of processes, with additional room for growth. Mr Pelosi-Wydra highlighted that modern, sustainable spaces are more than just infrastructure for the company, as they increase productivity and team satisfaction and support the recruitment of qualified employees. In a competitive market, this is crucial for long-term competitiveness. The collaboration with Propel Industrial was described as solution-oriented and reliable.
