Sh.i.r. Real Estate has bought the FIRMWERK Ost in the TechnologiePark in Cologne, Germany. FIRMWERK Ost comprises a total lettable area of almost 11,600m² including office, hotel and logistics space. Savills acted as an exclusive advisor to the vendor throughout the entire brokerage process. The purchase price was not disclosed.
Neighbouring FIRMWERK West site was already sold to German real estate services provider CORPUS SIREO Real Estate, a subsidiary of Swiss Life Asset Managers, at the end of 2020.
"We are delighted with the acquisition of the site and would like to thank all parties involved. We intend to reposition the site shortly as a new hub in Cologne, offering diverse and modern facilities with urban flair," said Zeev Laufer, Managing Director, Sh.i.r. Real Estate Germany.
