GARBE Industrial Real Estate has acquired Business Campus Kiel in Kiel-Suchsdorf, Germany. The multi-tenant business campus comprises 12 properties with a total rental space of approximately 76,700m², including office, production, light industrial and storage facilities. The seller is a European family office represented exclusively by Stargime Deutschland. The purchase price was not disclosed.
Business Campus was constructed between 1962 and 2016 in several construction phases. A new production hall (approx. 16,000m²) and an administrative building (approx. 2,500m²) were constructed in 2016. The property is located in an established commercial park with excellent transport connections.
The property is fully let with a WAULT of 8.7 years. Anchor tenants include Vossloh Locomotives, a European market leader in the construction of diesel locomotives, and Rheinmetall Landsysteme and Heidelberger Druckmaschinen, the world-leading manufacturer of sheetfed offset printing machines.
“The Business Campus is situated in an attractive location with excellent transport connections and it boasts internationally renowned tenants with a high credit rating. The properties have multi-use spaces, which means we can cater to the individual needs of the tenant as required. Business Campus Kiel also offers a potential for expansion,” explained Christopher Garbe, Board Director of GARBE Industrial Real Estate.