Valad, the European multi-let real estate investment manager, has let a total of 7,070 m² of industrial space to two new tenants at Reutherstrasse 3, in Hennef, Germany, on behalf of its European Industrial Partnership (EIP) fund.
Reutherstrasse 3 is a 15,000-m² mixed warehouse and office complex comprising five units which are currently occupied by a broad range of tenants in the storage and distribution sectors. Located in the west of Germany approximately 35 km south east of Cologne and 15 km north east of Bonn, the building has excellent transport links with the rest of Germany via the A560 and A3 motorways.
Klaus Kortebein, Valad's Head of Germany, commented: "It is encouraging to see that as the German economy continues to improve, demand from tenants for industrial space in good locations is also strengthening. In a local market dominated by small, single occupation warehouses, retail warehouses and some light industrial buildings, Reutherstrasse 3 stands out from other buildings in the area by providing flexible, multi-let office and warehouse space."
The EIP fund is a 400 million European multi-let industrial fund investing in industrial estates in Germany, France and the Netherlands.
Valad manages around 180,000 m² of property in the Rein-Ruhr Area. 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.
Source: Tavistock Communications