CBRE Global Investors has sold the Europaring 11 logistics building in Straubing in south-western Germany to Savills Investment Management fund. The 36,500m² asset was originally built as a tyre warehouse and, after its successful repositioning by CBRE Global Investors, has been fully let to Encory, a joint venture between BMW and the ALBA Group, since 2018.
The building with a site area of around 63,500m² is located in the freight centre in the port of Straubing-Sand, around nine kilometres away from Straubing city centre. It is connected to the regional and inter-regional transport network via the B 20 main road. The purchase price was not disclosed.
“The sale is excellent proof of our in-house logistics expertise. In a period of just three years, we were able to achieve a successful repositioning with a subsequent exit to the benefit of our investors,” said Tore Gehres, Head of Asset Management Office & Logistics Germany at CBRE Global Investors.
