25 Jun 2015
M7 Real Estate extends Comp Air’s Simmern lease to 2027
Frankfurt, 25 June 2015 – M7 Real Estate has advised MStar Europe on the extension of the lease to compressor and compressed air accessory manufacturer Comp Air, in Simmern. A tenant at the property at Argenthaler Strasse 11 since 1999, the company has just agreed an advance extension of its lease for the whole estate until 2027. Comp Air is part of Gardner Denver, a globally-active group of companies manufacturing highly developed compressors, blowers and pumps. The tenant was advised by JLL.
MStar Europe bought the light industrial property in 2014, in the scope of taking over the quoted Tamar European Industrial Fund (TEIF) with an industrial portfolio worth around €133 million. The Simmern asset has a lettable area of around 20,000 sq m, including around 17,000 sq m of industrial space and 3,000 sq m of offices.
M7 Real Estate currently manages 26 properties in Germany, with a total floor area of around 365,000 sq m and a volume of circa €160 million.