Stenprop has sold the Hermannquartier inner-city retail warehouse centre in Berlin-Neukolln to an ILG Capital institutional fund. The retail warehouse and office complex is adjacent to the Hermannplatz S- and U-Bahn station and offers a lettable area of 8,320m². The investment volume amounts to €30.8m.
The main tenants of the three-storey complex, which was built in 2008, include REWE, Netto, dm and Kik. 15% of the accommodation is let to office occupiers, cafés/restaurants and medical practices.
An ILG Capital spokesman commented: "We were particularly impressed by the location. Hermannstrasse, which links several popular ‘Kieze’ (Berlin neighbourhoods), features dense residential and commercial development. The high-footfall location, with direct access to the Berlin S- and U-Bahn network, will continue to feature established retail tenants and attract numerous visitors in the future."
