AEW fund acquired multi-let office building in Dusseldorf, Germany

AEW has agreed to acquire Schiessstrasse 61, a fully occupied, multi-let office building located in the office submarket of Linksrheinisch in Dusseldorf, Germany. The asset was acquired on behalf of one of AEW’s funds.

The five-story building, which comprises 4,400 square meters (47,360 square feet) of highly flexible rental space was originally built in 1953. In 2021, a renovation was undertaken including modernizing the entrance hall and staircase, and installing energy-saving LED lighting. The asset is fully leased to several credit-worthy tenants across a range of industries including telecommunications and engineering.

Schiessstrasse 61 benefits from strong transport links, with the metro station Loricker Strasse located directly opposite the building, linking to the city center within 15 minutes. In addition, the new metro line U81 is expected to open in the coming years, connecting the location to the airport. Linksrheinisch is a popular destination for offic