Knight Frank’s Frankfurt industrial team has overseen the sale of a significant commercial property spanning 430,000 m2 in the heart of Frankfurt for an undisclosed amount.
The site, located in Fechenheim on Hanauer Landstraße, has been sold to the Lugman Group, a local family office specialising in commercial real estate.
The sale, originally announced in November 2022, includes the former Clariant site, a prime location within the main city centre. The transaction is expected to complete in 2025.
Knight Frank worked closely with the Economic Development Agency of the City of Frankfurt, securing an investor that could meet the requirements of the current tenant, Allessa, as well as requirements from other tenants of the site.
Knight Frank brokered the deal with buyers, Lugman Group, ensuring the preservation of the existing chemical park, as well as proposed new developments on underutilised land on the site.
Additionally, plans have been announced to transform the western portion of the property, covering 120,000 m2, into a new commercial hub. The development will be well-connected to major motorways, including the A66 and A661, as well as by public transport, creating a versatile area for a variety of commercial uses.
Richard Laird, co-head of European Capital Markets, Knight Frank, said, 'The sale is another great example of the team’s success in executing highly complex and strategic site sales, under pinning the importance of access to private capital in the current market.’'
