Hamburg’s HBB Group has acquired a mixed-use property at Fangdieckstrasse 70-74 in Hamburg-Eidelstedt, Germany. A purchase price was not disclosed.
The property has 6,000 square meters (64,583 square feet) of leasable space on a 7,500-square-meter (80,729-square-foot) plot of land. Leased to three tenants, the complex of office, factory and warehouse space is located in a medium-sized commercial area in Hamburg's west.
The property is located near the Eidelstedt railway station and the A7 motorway.
“This property fits very well into our current investment strategy,” said Olaf Fortmann, managing director at HBB Capital Investors. “We expect the quality of the location to improve significantly over the next few years.”
Catella Property Consultants brokered the deal.
