BNP Paribas REIM acquires logistics asset in Vienna

BNP Paribas REIM acquires logistics asset in Vienna

BNP Paribas Real Estate Investment Management Germany has purchased a fully let logistics asset located in Schemmerlstraße in Vienna, Austria on behalf of the Eurozone Logistics Fund (ELF).

Amazon Transport Austria GmbH has been the main tenant at the property since its completion in early 2021/summer 2022.

Ideally situated in the Austrian capital, Amazon uses the site to provide last-mile logistics services to residents of the city and region. The logistics asset boasts roughly 32,000 sqm in total rental area. The majority of this space is dedicated to the newly built distribution centre and a car park 100% equipped with charging stations, both of which are let to Amazon. The rest of the space is a warehouse built in 1973 and extensively renovated in 2021 that is let to other tenants.

The company acquired the property from Go Asset Development GmbH.

The site’s excellent access to regional and local road networks enables the companies at the logistics property to reach 2.3 million inhabitants within a 30-minute drive. It is about a 9-minute drive to the closest motorway junction (A23/S1) and 17 minutes to Vienna International Airport. A bus stop is located directly on site.

Demand for logistics remains high. Excellent access to transportation and sustainable new-build design are integral features. The photovoltaic system at the distribution centre, reduced energy consumption at the stock building, LED lighting and e-charging stations in the waiting and loading zones along with 41 newly planted trees are all part of the asset’s ESG concept. The renovated warehouse and distribution centre have already been BREEAM certified and certification for the car park is currently underway.

“This asset has everything you could wish for in a modern logistics property: a sustainable design, a strong main tenant with guaranteed cash flow and an excellent location for last-mile logistics. Logistics assets will continue to gain in importance in the region around Vienna, the economic heart of Austria,” said Isabella Chacon Troidl, Chief Executive Officer for BNP Paribas REIM Germany.

This is the last acquisition of the fund which has now completed its investments and holds 15 A-grade assets in 6 different countries, said BNP Paribas REIM.