Invesco Real Estate sells Bondorf logistics hub to German retail leader REWE Group
Invesco Real Estate has sold its Bondorf logistics asset in southwest Germany to one of the facility’s current tenants, REWE Group, a food retailer in Germany. The sale was completed in an off-market transaction on behalf of one of Invesco’s flagship European strategies.
Acquired in 2016, the 84,500-square-meter (909,550-square-foot) high-specification asset is exceptionally well located in the center of west Europe, positioned on the main road between Stuttgart and Zurich and lying around 50 kilometers (31 miles) to the east of Strasbourg and the French border.
A household name in Germany, REWE Group's core business is food trading and retail through its REWE and nahkauf branded supermarkets, PENNY discount stores and the REWE To Go convenience platform. The group also trades in 20 other countries, operating 3,500 stores outside of Germany, and employs nearly 400,000 staff in total.
Going forward, REWE Group will take over the whole Bondorf site and upgrad