Clarion Partners Europe has acquired, on behalf of one of its co-mingled funds, an institutional quality logistics facility in Dieburg, Germany, from Union Investment. The Hamburg-based investment manager held the 100,000-square-meter (1 million-square-foot) property in the portfolio of one of its open-ended funds for 10 years.
Completed in 2015, the fully generic property is leased to a subsidiary of Fiege Logistik Stiftung & Co. KG, the German 3PL provider. It serves as a key operations center for tire supplier Pirelli, with the capacity to store up to 2 million tires at any given time. In line with Clarion Partners Europe’s commitment to owning real estate with the highest environmental and social credentials, the property is DNGB Platinum certified, featuring LED lighting and solar PV across the entire roof.
Dieburg is located less than a 30-minute drive south of Frankfurt, a major European logistics hub and primary focal point for the Rhine-Main metropolitan
