AEW has entered Austria’s logistics market with the acquisition of a 12,000sqm DHL cross-dock warehouse asset in Vienna.
The global real estate investment manager has paid an undisclosed amount to buy the fully-let asset on behalf of a German separate account investor.
The facility is situated in the Hagenbrunn submarket of Vienna.
Christopher Thiele, separate account manager at AEW, said: “With this acquisition, we have secured a prime logistics asset for our client in a first-class logistics location that serves both Austria’s largest and capital city, Vienna and acts as a main hub for goods flowing between Northern, Central and Eastern Europe.”
The property offers long-term secured cash flow through a remaining 18-year lease with DHL.
“In addition, we expect the asset to continue to benefit from the strong underlying structural tailwinds of technology, urbanisation and e-commerce, which will create further demand pressure in this already undersupplied Austrian market,” Thiele said.
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