German commercial real estate company Demire Deutsche Mittelstand Real Estate has sold the LogPark logistics property in Leipzig to a German institutional investor for around €121 million.
LogPark has a lettable area of around 159,000 m² and, with Amazon and Momox, has two well-known main tenants with long-term leases.
Since its acquisition in 2015, Demire’s asset management team has developed the former Quelle distribution centre into a multi-tenant property. The logistics property is characterized by a good location with motorway and rail connection close to the city center as well as the possibility of 24/7h operation.
Since the acquisition, Demire has succeeded in diversifying its mix of users, reducing vacancies and establishing long-term strategic partnerships with tenants. Following Amazon’s moving into additional rental space in autumn 2022, the repositioning of the logistics property has been successfully completed.