In 1883 a palm oil factory developed at the south shore of the Rummelsburger Bucht. Here, the company Regent extracted plant oil from palm kernels and other oil containing seeds. The raw material for this process came from German colonies in western Africa and formed the basis for the production of margarine. The factory is one of the oldest industries on the Stralau peninsula. In 1921 it was annexed by the Viktoria-Mühle as a wheat mill.

Of three existing storehouses, only the one closest to the shore remained after World War II. Originally, there was also a degreasing factory, a boiler house and an office building next to the Palmkernölspeicher.

The architect Albrecht Diebendt constructed the Palmkernölspeicher in neo-renaissance-style between 1883 and 1885. It is now under monumental protection. Two rows of continuous steel columns support the six story building. It used to have a pier for boats. The direct access to the water was characteristic for Stralau's industrial architecture.