HIH Invest Real Estate (“HIH Invest”) just acquired a logistics property development in Kronau near Karlsruhe. The new-build property is being developed and sold by a project company of the Machmeier Group (INWO) based in Sandhausen.
The property, which occupies about 43,550 square metres of floor area is already pre-let in its entirety to POCO Einrichtungsmärkte GmbH and the V&V Dabelstein Group. Slated for completion by the end of 2022, the new-build complex is designed for alternative use options and for multi-user occupancy, and will be certified under the DGNB Gold sustainability standard. The logistics property was acquired directly from the developer via an off-market transaction on behalf of a single mandate.
The asset in Kronau just purchased by HIH Invest is located directly next to the A5 motorway between Heidelberg and Mannheim, just north of Karlsruhe, the second-largest city in Baden-Württemberg. The region is one of the most competitive and wealthiest anywhere in the European Union. The robust local services and trading sector, the growth in e-commerce logistics, and the keen demand generated by manufacturing businesses fuel the need for more logistics real estate.
Image rights: Machmeier Group (INWO).
Source : HIH Invest Real Estate