Deutsche Investment acquires discount grocer in Germany

Deutsche Investment has acquired a discount grocer in the German city of Dieburg from a private company on behalf of its separate asset pool, Deutsche Investment – Food Retail I.

The transfer of benefits and burdens already took place. The two parties agreed not to disclose the selling price.

The building, which was raised on a plot of around 4,700 square meters (50,590 square feet) in 2016, has a lettable area of about 1,153 square meters (12,410 square feet), therefore around 815 square meters (8,772 square feet) of sales area. It is fully leased to the chain discounter NETTO Marken-Discount.

The city of Dieburg, which is categorized as a middle-order center, lies in southern Hesse, around 15 kilometers (9.3 miles) east of Darmstadt with convenient access to the economic region of the Rhine-Main metro area. It is also home to a satellite campus of the Darmstadt University of Applied Sciences.

“Aside from the sound structural condition of the propert