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Sign in Sign up for a FREE subscriptionGARBE Industrial sells logistics center in Germany to Nuveen Real Estate
GARBE Industrial Real Estate GmbH has sold a logistics property near Munich to Nuveen Real Estate, a U.S. real estate investment manager. The property in Erding, Germany, was commissioned in 2022 and has a total leasable area of around 7,300 square meters (78,580 square feet). It is occupied in its entirety by a globally active blue-chip company on a long-term lease. The state-of-the-art logistics facilities meet the highest environmental standards and boast a DGNB Gold certificate. The parties agreed not to disclose the selling price.
"Given the challenging market situation today, we are particularly pleased we managed to secure such an attractive new-build asset in a prime location like Munich on behalf of our institutional clients through this acquisition,” said Dominik Scheidmann, director of portfolio management, real estate, Europe at Nuveen Real Estate. “With its characteristics in regard to site, fit-out and environmental requirements, this asset perfectly matches