Tritax EuroBox has entered into a conditional agreement with a subsidiary of Dietz AG for the speculative forward-funding acquisition of a €76.4 million ($84.41 million) logistics asset in the Dusseldorf region of Germany.
The asset, now being constructed by the company’s development partner Dietz Aktiengesellschaft, is held freehold and will comprise three adjacent units with a total gross internal area of approximately 36,437 square meters (392,205 square feet). The three units offer flexible leasing options to be let to single or multiple tenants. Dormagen, located between Cologne and Düsseldorf, is considered one of the principal logistics areas in Germany with a scarcity of available development land and buildings coupled with strong occupier demand. Dormagen is connected to the A1, A46 and A57 motorways. This acquisition forms part of the continued deployment strategy for Tritax EuroBox after its successful equity raise in September 2021.
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