Hamburg-based investor Union Investment Real Estate has acquired a new office building at Düsseldorf airport. The vendor of the Airport Gardens, part of the Airport City development, was Strabag Real Estate. Both sides agreed to keep the financial details confidential.
Hamburg-based investor Union Investment Real Estate has acquired a new office building at Düsseldorf airport. The vendor of the Airport Gardens, part of the Airport City development, was Strabag Real Estate. Both sides agreed to keep the financial details confidential.
Union Investment is adding the 14,300 m2 multi-tenant building to the portfolio of its UniImmo: Deutschland open-ended fund. The six-storey office building with 324 parking spaces was delivered by Strabag in October 2010 and is located within walking distance of the terminals at Germany's third largest airport.
The property is 77% let to tenants including Mercer Deutschland, Mercuri Urval, IKK Classic und PrivatAir.
'Our investment speaks to companies that want to expand at Düsseldorf airport,' said Frank Billand, board member at Union Investment Real Estate.
Strabag has constructed three building at Airport City and is to begin work on a fourth shortly.
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