Savills Investment Management, has acquired a Light Industrial Park in Essen, in Germany´s Ruhr area, for its European Urban Logistics & Industrial Fund (EULIF). The seller is a joint venture of the Adolf Weber Real Estate and Project Development Company, which realised the inner-city business park in the last two years.
The two-building Light Industrial Park in Essen was completed in July 2022 and was fully let to eight tenants immediately afterwards. The property offers approximately 15,500 square metre of lettable space that can be easily rented separately or combined, ensuring a high degree of flexibility. The property has a 24/7 operating permit and is in an ideal last-mile location, with only five kilometres to Essen city centre and access to the wider Rhine-Ruhr conurbation of 11 million people.
Source: savillsim.com on the 22nd of august 2023