25 May 2016
M7 Real Estate achieves full letting of Cologne commercial park
The new occupier of the commercial park in Cologne-Ossendorf is Netherlands logistics company HJ Bakker Logistics B.V., which specialises in high-quality logistics services in the fashion, lifestyle products, electronics and medicines sectors.
Realogis, a consultancy firm for the letting of logistics and industrial property and commercial parks with ancillary office space in Germany, brokered the deal.
The commercial park, which provides 21,200 sq m of logistics space and 2,350 sq m of offices, is now fully let having been acquired by M7 at the end of 2014 with a vacancy rate of 17.4%. Other ten-ants of the property include Toys“R“Us and Zeh Internationale Spedition.
The asset, constructed in 1971 and extended in 1989, has good transport connections via a junction on the A57 motorway, leading to the A1 and A3.
M7 Real Estate manages 61 properties in Germany, with a total lettable area of around 361,500 sq m and a volume of c. €270 million.