Westcore Europe has purchased Weikersdorf Industrial Park, a 21,400m² industrial property to the south of Vienna, Austria, close to Wiener Neustadt airport, from Canadian-based Granite REIT. The Weikersdorf Industrial Park is a mix of industrial and ancillary office space, with 50% of the existing floor space leased to automotive supplier Magna Cosma.
The property is located in the West of Wiener Neustadt, about 30 minutes’ drive from Vienna. Wiener Neustadt is popular with businesses and is home to the Citivas Nova and the Eco Plus business parks. In addition, the city benefits from the Neustadt Nord shopping centre along with a number of retail parks and educational institutions. Weikersdorf Industrial Park has excellent transport links, being only 2 km from the junction of the A2 Autobahn and the B26. An adjacent vacant land parcel that forms part of the acquisition will provide an opportunity to deliver further additional floor space to the 45,000m² site. There is currently 9,000m² of vacancy that Westcore Europe intends to refurbish, sub-divide and lease-up over the coming months.
Marc Brutten, Founder and Chairman of Westcore Europe, said: “This is another very exciting addition to Westcore Europe’s growing Austrian portfolio which now totals more than 160,000m² of floor space and provides us with a high-quality income stream in one of the strongest commercial regions of Austria. The acquisition also provides numerous opportunities to improve the park through a proactive refurbishment, leasing and development program, undertaken by our very experienced local asset management and leasing teams."