DEMIRE sells LogPark in Leipzig for €121m

DEMIRE Deutsche Mittelstand Real Estate AG has sold LogPark logistics property in Leipzig to a German institutional investor for €121 million ($128 million).

LogPark has a lettable area of around 159,000 square meters (1.7 million square feet) and, with Amazon and Momox, has two well-known main tenants with long-term leases.

Since its acquisition in 2015, DEMIRE's asset management team has developed the former Quelle distribution center into a multitenant property. The logistics property is characterized by a good location with motorway and rail connection close to the city center as well as the possibility of 24/7 operation. Since the acquisition, DEMIRE has succeeded in diversifying its mix of users, reducing vacancies and establishing long-term strategic partnerships with tenants. Following Amazon's moving into additional rental space in autumn 2022, the repositioning of the logistics property has been successfully completed.