German industrial property specialist Realogis has advised a family office from Bavaria on the acquisition of the former Intaurus Group headquarters in Dachau, near Munich, in Germany.
Financial details were not disclosed.
The light industrial property at Rudolf-Diesel-Strasse 12 consists of a multi-part building complex on a site of around 8,500 m2 and is located 5.7 km from the edge of Munich. It was sold as part of an asset deal.
The Intaurus Group acquired the property in 2011 as part of a sale-and-leaseback transaction and demolished part of it and constructed the new building for the current tenant in 2015.
Following the construction of its new company headquarters in Kopernikusstrasse in Dachau, which it moved into in 2020, the investor, developer and manager of selected industrial, logistics and commercial real estate no longer required the property for its own operations.
'It took just four months from the initial contact until the sale was completed,' said Clemens Kerscher, managing director at Realogis. 'The Greater Munich area is popular among investors and there is growing interest in light industrial properties, such as this one and the automotive property that recently sold in Beilngries.
'Yields have fallen considerably even for properties with a sales volume of below €20 mln.'
A 2,500 m2 new build constructed by Intaurus in 2015 for the current user accounts for almost half of the around 5,900 m2 of warehouse, production and office space at the site.
The other existing buildings and their extensions offer warehouse and commercial space totalling around 2,500 m2 (constructed in 1989) and 810 m2 (constructed in 1966). There are also 58 car parking spaces.
Around 95% of the property is let to a single user on a long-term basis.
