CTP has expanded its Germany portfolio with the acquisition of approximately 39,000 square meters (420,000 square feet) of industrial and commercial space close to the city of Stuttgart as part of a sale-leaseback transaction with Mahle Behr GmbH & Co. KG, Stuttgart, a subsidiary of the automotive supplier Mahle GmbH. CTP is planning to transform the urban industrial district in Stuttgart, Baden-Württemberg, into a sustainable high-tech industrial park, suitable for a wide range of users including innovative production, research and development. Completion of the entire area is scheduled for 2029.
Mahle Behr GmbH & Co. KG is currently using the industrial space as a research and development location and is planning to gradually move its operating areas to the company headquarters in Bad Cannstatt, also in Stuttgart. The property size comprises around 39,000 square meters (420,000 square feet), with a total gross lettable area of around 64,000 square meters (689,000 s
