Pamera Real Estate Partners has acquired an office property in Eschborn, near Frankfurt, as part of a share deal. The vendor is an internationally-active investment company. The parties have agreed not to disclose the purchase price. The property, at Frankfurter Strasse 20, which was constructed in 2016, provides a lettable area of more than 5,300m², comprising around 5,000m² of office space and 300m² of storage. It also includes 169 car parking spaces. The asset is fully let. The weighted average unexpired term of the existing leases (WAULT) is over ten years. The largest tenant is an international jewellery and watchmaking group that has established its German headquarters in the building.
The impressive features of the property include its attractive architecture and modern building services installations. Situated in an established office location, it has very good transport connections. Frankfurt central station is only 15 minutes away by S-Bahn, while Frankfurt international airport is within 20 minutes' drive.
Christoph Zapp, founder and managing partner of Pamera: "Even during the Coronavirus crisis, we are staying active for the families we represent and we are taking advantage of investment opportunities that materialise. The property in Eschborn was particularly interesting for us because its cash flow is secure in the long term and it has potential for multi-tenant occupation in the future. What's more, as an office location Eschborn is becoming strongly established as a good alternative to Frankfurt.”
