GIEAG Immobilien AG (GIEAG), a project developer operating nationwide throughout Germany, has successfully sold a property with an area of just under 150,000m2 (GFA). The buyer is a German SME. The parties have agreed not to disclose the purchase price.
The property is an industrial and commercial site that has been owned by the GIEAG Group for many years and consists mainly of sealed open spaces that were previously used as car parking areas.
"We have been able to benefit from this site for many years. Due to strategic changes at the tenant, however, talks were held at short notice, which ultimately led to the disposal," as Benjamin Johansson, CEO of GIEAG, explained.
The property is located in the municipality of Emmering in the Upper Bavarian district of Furstenfeldbruck, situated around 25km west of Munich. Emmering is an established automotive logistics location.
The law firm GSK Stockmann assisted GIEAG as legal counsel in this transaction.
Image source - Pexels.
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