Construction begins on ELBDOX logistics development in Wedel near Hamburg
Construction has begun on the ELBDOX logistics development in Wedel near Hamburg. On the approximately 55,000 sq m site at Industriestraße 60, the joint venture between Feldberg Capital and the Teacher Retirement System of Texas (Texas Teachers) is developing more than 34,000 sq m of lettable space across six separate units. Completion is scheduled for mid-2027.
The warehouse, office and mezzanine areas can be flexibly subdivided and are designed to meet requirements up to German water hazard class 3 (WGK 3). Groundworks and the erection of structural columns are currently under way, while the first roof trusses are being installed. The next construction phases will include completion of the columns and groundworks, including drainage works, as well as the installation of further precast concrete elements for stairwells, loading bays and plinths.
Marketing of the space is already under way. According to Feldberg Capital, discussions are ongoing with several prospective occupiers. These include local companies, some based in the immediate vicinity, as well as occupiers operating beyond the region that require space in the Hamburg area.
ELBDOX will feature a photovoltaic system with a capacity of 2,300 kWp and eight electric vehicle charging points. A grid connection capacity of 3,200 kVA will also provide the infrastructure needed to meet growing future requirements associated with e-mobility. These features were included in the plans from the outset, when the site was acquired.
Overview: Texas Teachers joint venture
The joint venture between Feldberg Capital and the Teacher Retirement System of Texas (Texas Teachers), one of the largest public pension funds in the United States, plans to invest a total of EUR 200 million.
The investment focus is on high-quality logistics developments in German metropolitan regions with robust demand for modern logistics space and excellent infrastructure connections. The joint venture pursues a mid-box strategy launched in 2025, with Feldberg Capital acting as investment adviser.
About Feldberg Capital GmbH
Feldberg Capital (“Feldberg”) is an owner-managed real estate investment manager specialising in central London offices and industrial and logistics investments across the UK and Germany.
With offices in London, Frankfurt am Main and Berlin, the firm manages approximately EUR 1.8 billion in assets on behalf of institutional investors, corporates, family offices and high-net-worth individuals (as at 31 July 2026). With a team of more than 30 professionals, Feldberg supports its clients throughout the entire investment cycle, from investment and financing advice, fund and transaction structuring and acquisitions through to asset and development management and exits. The firm creates value through the active repositioning of assets, sustainability-focused refurbishments and hands-on execution.
Founded in 2022, Feldberg is led by Rodney Bysh, Managing Partner and CEO, and David Turner, Managing Partner and CIO. Its largest shareholder is ESAS Holding. Founded in 2000, ESAS is a global multi-asset manager and provider of investment management services specialising in alternative investments, operating from three offices in Istanbul, London and Frankfurt.
About the Teacher Retirement System of Texas
The Teacher Retirement System of Texas (TRS) is one of the largest retirement systems in the United States. Its primary purpose is to improve the lives of Texas teachers through the prudent investment and management of trust assets and the delivery of benefits to members. As at 31 August 2025, the TRS pension fund had a market value of USD 225.3 billion.