Verdion has fully let its 11,872m² (c. 127,789ft²) warehouse in Leipzig, completing its Verdion European Logistics Fund 1 (VELF 1) speculative development leasing programme. A separate, adjacent building on the site is occupied by overnight express service provider nox and extends to 8,500m² (c. 91493ft²). The asset is located in the Lützen-Zorbau area south west of the city centre, between the A9 and A38 motorways and close to the A14 and Leipzig/Halle Airport. Verdion acquired the 40,000m² (c. 430,556ft²) site for its VELF 1 fund in 2021, whilst the fund reached its final close in September 2020 with around €310 million (c. £299m) to deploy and focuses on urban logistics and industrial sites with across Northern Europe, including Germany, the Netherlands and the Nordics. Verdion head of investment for Germany Oliver Kemper said: “The full leasing of all VELF 1 speculative development is a further important milestone in the execution of our fund strategy: acquiring, transforming, leasing and stabilising high-quality logistics assets ahead of the phased disposals that are delivering value for the fund’s investors.