German fund manager Deka Immobilien has acquired a further commercial logistics facility in Vienna, Austria, from project developer Deutsche Logistik Holding, part of the family-run Zech Group.
Financial details were not disclosed.
Deka purchased the project development, dubbed Beta, for its WestInvest TargetSelect Logistics fund. The scheme is located on the Industrial Campus Vienna East and comprises a leasable area of 40,000 m2.
The project has a target completion date of the third quarter of 2021 and will be certified DGNB Gold.
On completion, the Industrial Campus Vienna East will be Austria's largest logistics park with six buildings and a total rental area of more than 120,000 m2.
The estate's Gamma 1 and Gamma 2 properties, with a lettable area of 33,000 m2 have been part of the WestInvest TargetSelect Logistics portfolio since the end of 2019. The two properties Alpha 2 and Gamma 3, representing more than 41,000 m2, were also secured by contract in 2019 and are to be brought into the fund in December 2020.
The Industrial Campus Vienna East is located in Enzersdorf an der Fischa in the immediate vicinity of Vienna-Schwechat Airport.
