Arrow Capital Partners has acquired a 17,000 m2 warehouse on a 50,000 m2 site in Trossingen, Germany, for its SIRE (Strategic Industrial Real Estate) joint venture with Cerberus. Financial details were not disclosed.
The asset, acquired from an owner-occupier in the retail sector, will become vacant in September and be available to let by the end of 2024 following a comprehensive refurbishment. The building currently comprises around 17,000 m2 of lettable warehouse space with a high-bay warehouse up to 15 metres and cross-docking facilities and 60 dock levellers.
Arrow Capital Partners will rename the asset Arrow Point Trossingen as part of a broader refurbishment programme that will also improve the property’s sustainability credentials, including work to ensure it is ready for energy efficiency technologies such as electric vehicle charging and photovoltaic panelling.
Commenting on the acquisition, Danilo Hunker, head of Germany at Arrow Capital Partners, said: 'This site has huge potential, located in the well-established Trossingen logistics area where there is a significant lack of supply of logistics warehouses. We see an excellent opportunity to upgrade the space and turn the asset into a high quality, well-equipped and more sustainable logistics warehouse suitable for a broad variety of logistics operators.'
Arrow Capital Partners was advised on this acquisition by BNP Paribas Germany. The letting agent at Arrow Point Trossingen is Realogis.
