Cornerstone laid for Iron Mountain Archive Center at Gazeley's Magna Park Rhein-Man

The overall project, including the long term lease, has been sold to Marshgate, the UK-based investment group.

Ingo Steves, Managing Director, Gazeley - Germany, Austria, Switzerland, Hans-Günter Börgmann, Managing Director, Iron Mountain Deutschland GmbH, mayors of the neighbouring communities, senior officials from the municipality, partners and representatives from the economic sector attended the cornerstone laying ceremony for the specialised facility.

Earthworks on the 16,000sqm (172,000sqft) plot of land at Gazeley's Magna Park Rhein-Main had started in September 2009, to ensure in-time delivery of the 18 m high archive center by April 2010.

The center will be one of the biggest and most sophisticated digital record centers from Iron Mountain, world's leading information management service providers. It will store and archive business-critical documents for Rhein-Main customers and will support Iron Mountain's existing presence in the area.

Ingo Steves, Managing Director, Gazeley - Germany, Austria, Switzerland, said:

"The archive center will be an important element in Magna Park Rhein-Main and will have the Gazeley stamp of sustainability in all its aspects. We are encouraged by the positive sign of economic recovery, particularly that of the property market, which is reflected in this Iron Mountain development."

Hans-Günter Börgmann, Managing Director, Iron Mountain Deutschland GmbH, said: "The start of the structural works for the center marks an important step for us. The Rhein-Main archive is one of our most modern and largest. Operating from Magna Park will give us the added advantage of being based in the most efficient logistics center in Germany's business hub."