La Française Real Estate Partners International has acquired, on behalf of a La Française collective real estate investment vehicle, a retail warehouse located at Schwabenheimer Weg 5, in a commercial zone, north-east of the town center of Bad Kreuznach. The retail activity of Bad Kreuznach is largely concentrated in this commercial area, which extends from the railway station to the northeastern city limit of Bad Kreuznach.
The retail warehouse is easily accessible by highways B428, BAB61 and BAB60. Bad Kreuznach is about 80 km away from Frankfurt am Main and about 40 km away from Mainz, the capital of Rhineland Palatinate and 40 km from Wiesbaden, the capital of Hesse.
The fully refurbished 15 400 m2 retail warehouse (ground floor and first floor) offers both retail and storage space and has 560 outdoor parking spots. The asset is 100% leased, under a 13-year firm master lease, to a single tenant, one of the leading German grocery retailers.
Jens Goettler, Managing Director for Germany, La Française Real Estate Partners International, said: “Following the successful office investments in Germany, La Française is seeking to diversify its French collective real estate investment vehicles both from a geographic and asset type perspective. As German consumer spending is increasing, more and more, we will be competing in the German retail space in order to secure quality assets such as the retail warehouse and high quality inner-city retail assets.”
La Française Real Estate Partners International was advised by Clifford Chance LLP and TA Europe.
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