27 Mar 2018
M7 Real Estate sells light industrial property in Sindelfingen to W2 Development
Frankfurt, 27 March 2018 − M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has sold a light industrial property in Sindelfingen, near Stuttgart on behalf of TEIF Germany S.à r.l., a property company owned by a US investment company. The purchaser is W2 Development GmbH, Stuttgart.
The property, at Neckarstrasse 54, comprises a circa 18,000 sq m site developed with two hall com-plexes of 4,850 sq m and 6,550 sq m. Constructed in 1976 and 1990, the buildings were fully refur-bished in 1997. The property is occupied by Daimler AG. M7 was responsible for the asset manage-ment of the property until the sale.
W2 Development GmbH plans to carry out a commercial development on a currently undeveloped area of the site.
The Kreissparkasse Böblingen brokered the deal, via its investment property division.