Logistics real estate
Successful re-letting of 33,000 square meters of logistics space in Ketsch
Palmira Capital Partners and Nuveen Real Estate were able to prevent their property in Ketsch near Hockenheim from becoming completely vacant due to insolvency. Within a few weeks, Palmira and Nuveen succeeded in finding a tenant for the property and concluding a ten-year lease agreement with him. The new tenant is LGI Logistics Group International.
Thorsten Bienek, Head of Property Management at Palmira, comments: "This seamless letting in such a short time shows that it is always better to invest with logistics real estate experts such as Palmira or Nuveen, who can also overcome unexpected problem situations with a team experienced in logistics and a deep market network. Anyone can buy - but only professional support for logistics properties over the usually very long life cycle of this asset class ensures optimum value retention."
The property, which was completed in 2018, has around 30,500 square meters of warehouse space and around 2,400 square meters of office and social space and is located on a 67,300 square meter site in Sachsenstrasse in the south of Ketsch. It is part of the portfolio of the ICF German Logistics fund, for which Palmira is responsible together with Nuveen as investment and asset manager and Palmira Industrial Management as property manager.
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