Deutsche Investment acquires Neuenburg retail property (DE)

Deutsche Investment acquires Neuenburg retail property (DE)

Deutsche Investment just acquired a grocery retail location with a lettable floor area of around 1,968m² in the town of Neuenburg (Baden-Wurttemberg) for its latest separate asset pool, “Deutsche Investment – Food Retail I.” The property, which was built in 2009, is occupied by an Aldi Sud food discount supermarket and a bakers’ store that includes a café with indoor and outdoor seating, which has been operated by Backerei & Konditorei Raisch since March 2020.

 

The Aldi outlet was expanded in 2015 and is in excellent repair. As combination site across from a big-box strip mall that is anchored by a “dm” drug store, the property benefits from synergy effects and from its close proximity to surrounding residential and commercial areas. The very well-appointed property was taken over from a private seller, the transfer of benefits and burdens already took place. The two parties agreed not to disclose the selling price.

 

“From an opportunity-risk angle, the food retail sector remains the most attractive segment in retail real estate. This is particularly true for grocery retail centres and retail warehouse parks where the footfall is ensured by an anchor tenant from the food sector and a supplementary drugstore or a bakery shop,” said Susanne Klaussner, Managing Director of DIR Deutsche Investment Retail. “For our first investment fund in the grocery retail segment, we seek a tenant mix of high-net-worth grocers and retail warehouse tenants, plus some local tenants that complement the line-up. With its anchor tenants and the multiplication effects generated by the combination site, the retail warehouse in Neuenbürg is a particularly attractive asset for our retail warehouse portfolio.”

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