Allianz Real Estate has acquired a special purpose vehicle (SPV) owning a newly built, last-mile logistics facility in southern Vienna from Exeter Property Group for €72 million.
The prime facility sits c. 10 km from Vienna’s centre, located in the largest industrial and commercial area serving the Viennese market; it is also just 250 meters from the nearest Metro line.
The logistics facility in Vienna is single tenanted by Amazon and is one of the company’s delivery stations in the region. While the core building covers 9,000 sqm, the total area being acquired including land covers 48,000 sqm, with much of it being used to host the delivery vehicles needed to meet demand.
“We’re delighted to be able to acquire this highly attractive hub with a prime tenant servicing the high-growth, urbanized Vienna market,” said Thomas Villadsen, Director Austria & CEE at Allianz Real Estate. “Austria has not yet been viewed as a traditional logistics hub but this is an exceptional last-mile asset in an outstanding location.”
“While we have acquired logistics assets in North & Central Europe indirectly, this is our first direct transaction in the region. We have built, and continue to build, one of the most well-positioned logistics portfolios globally, including last-mile centers, and this facility in Austria again underscores our focus on the highest quality assets,” said Hugues Braconnier, Head of Logistics at Allianz Real Estate.