CBRE Global Investors has acquired 13,000 m[sup]2[/sup] in the Mönchhof multi-park industrial and logistics complex located near Frankfurt airport. The investment volume was not disclosed.
CBRE Global Investors has acquired 13,000 m2 in the Mönchhof multi-park industrial and logistics complex located near Frankfurt airport. The investment volume was not disclosed.
The vendors were MP Holding and OFB Projektentwicklung. CBRE Global Investors carried out the transaction on behalf of its Pan European Core Fund (PEC Fund).
The park is located in Mönchhof and benefits from its strategic location to the northwest of Frankfurt Airport with direct access to the A3 and the A67.
The complex is being built in several phases. It currently offers about 18,500 m2 with rental spaces from 300 to 6,500 m2 and will be expanded due to the growing demand for logistics space near Frankfurt Airport. The park's tenants include Sovereign Speed, Sulzer Metco, ITT Motion Technologies and OVG.
The 13,000 m2 acquired by the PEC Fund are the first and second construction phases, built in 2010 and 2011. The acquisition is the sixth transaction for the PEC Fund - its second in Germany - and is in line with the fund’s long-term investment strategy. This open-ended fund targets core investments across Europe with a focus on industrial, retail and office properties.
SIMRES and CBRE acted for the PEC Fund.
