CBRE Global Investors, on behalf of its investors, has acquired three logistics assets in Germany. The vendor was DEKA Immobilien.
The assets are:
Assar-Gabrielsson-Strasse, Dietzenbach, Hesse. The 16,124 m² warehouse is located in the Dietzenbach-Nord commercial area, 15km south of Frankfurt. The two-storey facility, built in 2001, is fully occupied by Geis Industrie Service company.
Andreas-Meyer-Strasse, Hamburg. The 31,668 m² warehouse is centrally situated in the Billbrook logistics location in Hamburg. The property is let to Schwarze und Consort an established regional logistics company which primarily stocks and trades coffee beans.
Werner-Siemens-Strasse, Hamburg. This 22,098 m² warehouse is also located in the Billbrook industrial area and is let to GLS an established regional logistics company which stocks tinned food.
Ulrich Oppermann, Head of Transactions Germany, CBRE Global Investors commented: “We have acquired assets that meet the strategy of our investors of securing long term holds in the strongest German logistics markets. The portfolio is 98% occupied and there is almost no supply in these markets so the probability of lease renewals is high. We have the potential of upgrading the assets to modern standards and have bought into a highly liquid market for our investors.”
Source: CBRE Global Investors
