Valad, the European multi-let real estate investment manager, has let a total of 4,113 m² of warehouse and office space at Reisholzer Werftstrasse 38 42, Düsseldorf on behalf of its V+ Germany fund.
BauRent Baumaschinen Mietservice GmbH, a utility vehicle rental agency with 29 subsidiaries across Germany, has agreed a 10-year lease on 3,433 m² of warehouse, offices and land, while PCS Professional Conference Systems GmbH, a conference and media company, renewed its lease on 680 m² of warehouse and office space, also for a 10-year term. Following the latest lettings, the building is now almost completely let with only 250 m² of office space remaining.
Reisholzer Werftstraße 38 42 is an 18,000-m² mixed office and warehouse building located 7 km south of central Düsseldorf in the industrial and office district of Holthausen. The site has excellent links with the rest of Germany via the A46, A57 and A52 motorways.
Klaus Kortebein, Valad's Head of Germany, commented: "To have signed a new tenant for 10 years and secured an existing tenant for an additional 10 years is a great result for the V+ Germany fund. With only a small amount of office space remaining, we are confident that this asset will continue to provide long-term value for the fund."
Dirk Neuman, Managing Director of Professional Conference Systems GmbH, commented: "The site's location on the outskirts of Düsseldorf and close to the A46, A57 and A52 motorways is ideal, giving us the flexibility to travel freely whilst avoiding the city's rush hour traffic. We are also nearby key amenities like rail, car hire and banks. We are extremely comfortable in this accommodation."
The V+ Germany fund is a mixed commercial property fund focused on strong, established, non-CBD markets in Germany.
Valad manages around 180,000 m² of property in the Rhein-Ruhr area of Germany. With offices in Hamburg, Frankfurt, Munich and Berlin, Valad's team of 30 manages over 1.4 million m² of space in Germany across four of its 15 funds.
Valad was advised on the new letting to BauRent by Engel Canessa, Düsseldorf.
Source: Tavistock Communications