GARBE Industrial Real Estate just acquired a light-industrial property on behalf of its logistics property fund, “GARBE Logistikimmobilien Fonds Plus II” (GLIF+II), within the framework of a sale-and-leaseback deal.
The office and light manufacturing property, built in 1984 and expanded in 1993, is located on Oranienburger Strasse in Berlin’s borough of Reinickendorf. It was sold by a globally active automotive supplier who rented the property on a 15-year lease that includes a renewal option for another five years.
The plot extends over around 24,600 square metres of lettable area, which breaks down into 20,250 square metres of light manufacturing space, 2,750 square metres of office space and 1,600 square metres of other kinds of floor space. The selling price was in the mid-double-digit millions.
Source: garbe-industrial.de on the 30th of January 2023
https://www.garbe-industrial.de/en/garbe-institutional-fund-acquires-light-industrial-property-in-berlin-reinickendorf/