HIH Invest Real Estate (HIH Invest) just acquired the Flugfeld-Allee 12 site in Sindelfingen for a single mandate from an institutional investor. A lease agreement for the entire floor area was signed for a fixed term of 15 years plus two renewal options for an additional five and three years, respectively.
The building cluster was constructed in 2015 on a plot of 30,000m2 at Flugfeld Boblingen/Sindelfingen. It includes an office scheme of 9,703m2, a factory hall of 8,081m2, storage areas of 1,628m2, and a cafeteria of 1,039m2. There's a multi-storey car park with 556 spots and 31 surface parking spots. In the medium term, a photovoltaic system will be installed on the warehouse roof.
“Our tenant very much appreciates its facility at Flugfeld Boblingen/Sindelfingen, and is planning to occupy the site long-term. Principally speaking, the complex has a very high potential for alternative usage both as a whole and in individual parts,” said Daniel Asmus, Team Head Transaction Management Office Germany at HIH Invest.
“We’re glad we managed to secure this attractive asset for our investor. For forward-looking investors, the time has come to seize emerging opportunities and to take a counter-cyclical approach. Single mandates let us respond very flexibly to the current market situation. At the same time, our extensive network enables us to identify and exploit opportunities,” added David Sanders, Senior Fund Manager at HIH Invest.
The technology hub offers convenient transportation links with A81 motorway and Boblingen railway station within walking distance. Stuttgart, its airport, and exhibition grounds are only 20km away. Flugfeld Boblingen/Sindelfingen is an established and growing office, research, and residential location spanning over 80ha, with 4,000 residents and 7,000 workplaces. Mercedes-Benz operates the world’s largest automobile plant in the automotive sector in Sindelfingen, providing more than 35,000 jobs.
Baker Tilly Rechtsanwaltsgesellschaft conducted the legal and fiscal pre-acquisition audits while WITTE Projektmanagement undertook the technical audit. The ESG due diligence was done by ea development. BNP Paribas Real Estate GmbH advised the seller side during the transaction.
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Image provided by Ruecker Consult. © HIH Invest.
