AEW has purchased a fully let last-mile logistics park in the district of Marsdorf in Cologne for a pan-European separate account mandate on behalf of a German pension scheme. The seller is Cologne-based AVI Allgemeine Verwaltung von Immobilien GmbH.
The logistics park comprises three warehouses totaling 27,000 square meters (290,626 square feet) and a recently renovated office tower, which offers 6,000 square meters (64,583 square feet) of space. The asset is 100 percent let to a mix of state-backed and private-sector occupiers.
In Cologne-Marsdorf’s commercial precinct, the asset is in an established location, close to one of Germany’s busiest traffic hubs, the Autobahn junction Cologne-West (where the A1 and A4 cross), which connects the area with the “Güterverkehrszentrum” (GVZ) to the south. In addition, the quality of the location is reflected in how close it is the city center: Cologne's Neumarkt, which is about seven kilometers away and can be reached
