LaSalle Investment Management, acting for its LaSalle E-REGI fund, has acquired a logistics and a wholesale property located in Heppenheim, Germany. The company has bought the assets from three private vendors. The purchase price was not disclosed.
The assets comprise a motorway logistics property and a retail property, both of which are fully let to prestigious international tenants. The former, a state-of-the-art new-build distribution facility acquired from GbR Biskupek-Scheinert-Klotz, has a rental area of over 18,000m² and is leased exclusively to Henry Schein, the global medical product distributor. The latter is a wholesale property with over 5,000m² rental area that was purpose-built for MetroGastro, its sole tenant and a subsidiary of Cash & Carry operator Metro group.
Located in Heppenheim, south of Frankfurt, the two assets sit between two metropolitan regions - Frankfurt/Rhine-Main and Rhine-Neckar – with a combined population of over 8 million. The properties benefit from strong transport links, including Europe’s leading freight airport in Frankfurt, less than a half-hour’s drive away; the nearby Mannheim-Handelshafen container terminal, Europe’s second-largest inland port with rail and river connections to European business and transportation centres; and the major A5 and A67 highways.
Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “With the long-term growth of e-commerce continuing to drive an increase in demand for well-located logistics assets, we have been seeking opportunities to further increase the LaSalle E-REGI fund’s allocation to the logistics sector. These assets are modern and attractively situated, fitting our criteria and offering further sectoral diversification to our investors. We are pleased to have acquired two properties that offer stable long-term rental income secured against high-quality tenants in market-leading positions.”