Gießen: Otto planning logistics center for €300mn
Mail order retailer Otto intends to invest roughly €300mn in building a logistics center in Gießen (Hesse). Construction of a 90,000 sqm pallet logistics facility on part of the site called “Am Alten Flughafen” is to start in 2020. The 34 ha site was used by the US Army until last year, and currently belongs to developer Revikon. Completion of the first phase is expected in 2022. The grounds also offer space for another 70,000 sqm structure, Otto states. The retailer also told TD upon inquiry that they intend to act as builder for the project themselves.
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