In 2012, we acquired this office and logistics building with a rental space of around 15,000 square meters in the city district of Eidelstedt. Around 30 percent of the space was vacant at that time. Our aim was to extend existing rental contracts and rent the remaining areas.
The site is primarily suited to logistics companies due to its good connection to the BAB 7 and 23 as well as various national highways. In addition, most of the space is allocated to / houses manufacturing facilities and logistics. This is reflected in our utilization concept; we have organized the free areas to fulfil the requirements of a distribution center. The companies which opted for the available spaces were the service provider of an international furniture company and a Hamburg-based forwarding firm.
Following purchase, renovation, and re-rental, we have transferred this multitenant property to our long-term portfolio. We now have an asset with potential 24-hour utilization situated at a central northern German transportation hub.