SEGRO joint venture acquires logistics facility in Germany (DE)

SEGRO plc announces that the SEGRO European Logistics Partnership joint venture, in which SEGRO has a 50% interest, has acquired a 36,844 m² prime logistics facility in Oberhausen, Germany, for €37.0 mln.
The vendor has requested to remain confidential.
The recently completed building is let on a nine year lease, without break options, to Lekkerland, the European convenience retail wholesaler and distributor. There is an opportunity to extend the building in the future.
Lekkerland supplies over 100,000 filling-station shops, kiosks, specialist drinks markets, food stores, bakeries, fast-food chains, canteens and other convenience stores across Europe.
Commenting on the acquisition, Sebastian Ott, SEGRO’s Investment Director for Northern Europe, said: "The acquisition of this facility in Oberhausen, one of Germany’s prime logistics markets, is an example of our ability to execute acquisitions at attractive yields which will enhance the quality and longevity of our income stream.”
Source: SEGRO

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