Global real estate investment manager AEW has announced the acquisition of a prime new logistics property in Vienna’s Hagenbrunn submarket on behalf of a German separate account investor.
The property is fully let to DHL on an 18 year lease (with first break at 10 years) and subleased to Österreichische Post as part of the strategic partnership between the two companies. Financial details were not disclosed.
Constructed in 2019, the asset comprises 11,600 m2 of lettable area as well as 40,000 m2 of outside space. AEW will seek a BREEAM Very Good energy certification for the building as part of its asset management plan.
Christopher Thiele, Separate Account Manager at AEW, commented: ‘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. 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.’
AEW was advised by Dorda, TPA, EY and Oterea.
