Trei Real Estate GmbH (Trei) just disposed of a convenience centre in Starnberg, Bavaria. The buyer, GRR Group, will add the property to its Article-8 fund, GRR Future Retail Properties 1. The transaction took the form of an asset deal. The two parties agreed not to disclose the selling price.
The three-storey convenience centre on Weilheimer Strasse in the southern part of Starnberg was completed in 2020, and provides 4,432m2 of lettable area. Its anchor tenant is a full-line supermarket of the Edeka chain, whose sales area is located in the basement. Edeka’s lease runs through the end of 2031, subject to three renewal options for five-year terms each. The upstairs floor divides into additional rental units with a total useful area of about 455m2. All three units are tenant-occupied by an office, a doctor’s surgery, and a beauty salon. The tenants and their customers have the use of 115 car parking spots overall.
Pepijn Morshuis, CEO of Trei, commented: “We are glad to have found just the right buyer in the GRR Group and would like to thank them for the constructive partner-like talks we had. The convenience occupies an excellent location and attracts a large number of customers from Starnberg proper and surrounding areas. It is directly accessible from the B2 federal route, the main thoroughfare in the region. In addition, it is the only combination site in Starnberg, whose direct neighbors, including a Aldi discount supermarket, a Denn’s organic supermarket and a dm drugstore, invest it with a high synergy potential in the local grocery sector.”
The estate agency Realkon Immobilien in Munich brokered the transaction on behalf of Trei, with the law firm of Friedrich Graf von Westphalen & Partner acting as legal advisor.
Image provided by Ruecker Consult.