Catella Real Estate AG (CREAG), Munich, is acquiring a recently completed, c. 18,490m2 production property at Carl-Zeiss-Strasse 22 in the Langenau industrial estate about 20 km north-east of Ulm for the special AIF Catella Logistik Deutschland Plus (CLD+). The property is fully let to the tenant 247TailorSteel on a long-term basis as part of a sale-and-leaseback transaction.
The lettable area of the property totals 18,490m² and is divided between a 16,622 m² production and warehouse space, a 1,733 m² office and social space, and a 135 m² mezzanine space. There are 145 parking spaces available on the 36,757m² site. The property completed in March 2023, was developed according to high technical standards and creates a pleasant quality of stay for the users of the property with plenty of daylight and high-quality fittings. The property was designed and developed according to the requests of the tenant 247TailorSteel. A third-party use with logistics use was already taken into account in the planning of the building and enables flexible re-letting.
The property is located in an established commercial area with direct access to the A7 motorway and the Ulm motorway junction.
With the acquisition of the property, Catella was able to secure what is now the 14th property for the Catella Logistik Deutschland Plus investment fund and thus excellently complements the existing portfolio through the quality of the new construction and high ESG standards and further stabilises the cash flow of the investment fund through long-term leasing.
"We are delighted with this modern property, which is suitable for third-party use, in a highly sought-after location. The location with perfect infrastructure will offer the tenant the opportunity to further develop the successful business model and continue the expansion. Despite the current difficult macroeconomic environment, the transaction was realised as a sale-and-leaseback at very attractive economic conditions," said Lukas Deubzer, Senior Investment Manager at CREAG.
Catella Real Estate AG was advised by DLA Piper on legal and tax matters and by Arcadis on technical matters. The ESG due diligence was also carried out by Arcadis. The seller was legally advised by Greenberg Traurig. The transaction was brokered by 1530 Real Estate.
