Sector Seven Investors has successfully concluded refinancing of the property at Wittestraße 46-48 in Berlin-Reinickendorf with UniCredit. The inner-city logistics complex, which is home to approximately 23,000 sqm of rentable space, has been progressively upgraded in recent months thanks to active asset management and new lettings.
Sebastian Blecke, Managing Director Sector7: “Successfully concluding the new financing structure with UniCredit Bank sends a positive signal in challenging times and provides further confirmation of our concept of sustainable portfolio development. We would like to thank the UniCredit team for the professional and well-managed process.”
In addition, Sector7 has rented the last available large hall space to the online supermarket Picnic. In preparation for its launch in Berlin, the groceries delivery service, which is already active in the Netherlands, France and North Rhine-Westphalia, moved into the Wittestraße complex in June 2023.
Picnic uses a total of around 3,100 sqm of warehouse space, plus open space for charging and storing its fleet of electric delivery vehicles on the site at Wittestraße 46-48. Thanks to its inner-city location and outstanding accessibility, the site is proving to be an ideal last-mile logistics hub and is now 95% occupied.
The logistics and commercial center on Wittestraße is located on an existing industrial site in the north of Berlin with excellent transport links and offers a wide range of warehouse and office space for logistics companies, skilled trades and commercial enterprises. The halls with loading ramps and ground-level delivery are ideal for both classic logistics providers and modern last-mile logistics companies. In particular, the focus on event and catering companies from the B2B sector has been successful and a concept property approach has been established. The planned photovoltaic system will further increase the attractiveness of the property with environmentally-friendly and low-cost and solar power. The Berlin district of Reinickendorf is a mature and popular industrial location, not least due to its direct connection to the A111 and B96 expressways and easy accessibility via public transport.
Over the next few years, the property will be gradually developed into a hub for the food logistics sector, taking ESG criteria into account, and is already home to numerous high-profile profile tenants from this sector.
More about the project: https://sectorseven.de/en/project/berlin-wittestrase/