Valad, the European multi-let real estate investment manager, announces that it has agreed leases with five new tenants for predominantly warehouse space in three assets in Reinickendorf, Berlin, totaling 5,984 m².
At Miraustraße 27-29, three tenants have leased 2,061 m² of warehouse and office space. Stanztec Weinkopff GmbH has signed a five year lease on 600 m² of warehouses; SVT Brandsanierung GmbH has signed a three year lease on 701 m² and another logistics company has leased a 690 m² warehouse unit and 70 m² of office space, along with an additional 200 m² of land.
The lettings were agreed on behalf of Valad's European High Income fund. Following these lettings the asset is now 93% let, with only small amount of office space still available.
At Montanstraße 18-26, Clipper Logistics GmbH, have let a 2,830 m² high rack warehouse and small office area and an additional 415 m² of land for five years.
Another five year lease has been signed by W&S Handelsgesellschaft mbH at Holzhauser Straße 153, on 428 m² of warehouse space. Both lettings were completed on behalf of Valad Europe's DUKE joint venture.
The district of Reinickendorf, located to the north west of Berlin, provides excellent transport links to Berlin city center as well as the wider area, with the surrounding motorways providing a direct link to Hamburg in the north.
Danilo Hunker, Valad Europe's Head of Asset Management in Germany, commented: "We are delighted to have secured these new lettings. To have signed five new tenants in the Reinickendorf area is a great result for Valad and serves to demonstrate the benefits of having local, on the ground asset management expertise with professionals who know and understand the local market."
Valad has a team of 30 in Germany, operating out of offices in Berlin, Frankfurt, Düsseldorf, Munich and Hamburg, who manage almost 1 billion of assets and 800 tenants, on behalf of four of Valad's 13 funds.
Eberhard Engel Immobilien and Engel & Völkers advised at Miraustraße 27-29, Jones Lang LaSalle at Montanstraße 18-26 and Weimer Immobilien advised at Holzhauser Straße 153.
Source: Tavistock Communications