Real I.S. sells Bielefeld logistics property of its BGV III fund

Real I.S. AG has sold a logistics property, located on Ludwig-Erhard-Allee in Bielefeld, Germany, to an individual mandate managed by LaSalle Investment Management.

The complex, measuring 31,200 square meters (335,834 square feet), was part of the portfolio held by the special real estate alternative investment fund (AIF) BGV III. Built in 2008, the property is let on a long-term lease to the Kühne + Nagel Group. The total leasable area of approximately 4,000 square meters (43,056 square feet) consists of an office area and 27,200 square meters (292,778 square feet) of hall and storage space. By agreement, the price of the transaction was not disclosed.

The property is located in a commercial area of the eastern part of Bielefeld, directly on the A2 motorway. Thanks to its position in the center of Germany with direct access to the motorway network, all major cities in the north of the country  — like Hamburg, Hanover and Bremen, as well as the Ruhr area  — Â