KanAm Grund Group’s open-ended real estate fund Leading Cities Invest has acquired its first logistics property in Austria.
The 13,000 square meter last-mile logistics property, Cross Dock Upper Austria, is located at Johanna-Hager-Str. 2 in Enns near Linz.
The seller is the Meir Immobilien Group from Austria, and CBRE Austria acted as broker during the acquisition.
It was agreed not to disclose the purchase price.
After the acquisition of the property, the logistics portfolio of Leading Cities Invest has grown to eight objects, which now represent almost 8 percent of the real estate assets. It is also the first Austrian property in the fund. The remaining seven logistics properties in the portfolio are spread across central and northern Germany.
It was only in March of this year that the open-ended public real estate fund acquired the “Lambda” light-industrial property near Chemnitz – with the long-established company Diamant Fahrradwerke GmbH as a long-term tenant. Most recently, it was possible to benefit from the positive market situation in Switzerland and sell the “Chiquita headquarters” on Lake Geneva at the beginning of June.
Sascha Schadly, Managing Director of the KanAm Grund Group and fund manager of Leading Cities Invest, says: “We are very pleased that with the “Cross Dock Upper Austria” property we have another logistics were able to acquire real estate for Leading Cities Invest. The demand for logistics and industrial real estate remains high, with last-mile properties being in particularly high demand. The location in Austria ensures further diversification in the fund’s portfolio. Along with Vienna and Graz, Linz is one of the three logistics hotspots in Austria. In addition, the visible transaction dynamics and the high occupancy rate of currently 96.8 percent are clear evidence of the fund’s earning power.”
The “Cross Dock Upper Austria” property was built in 2019 with high-quality construction. Among other things, reinforced concrete was installed in the foundation, supports, steel girders and fiber-reinforced panels. The logistics hall is rectangular, with loading gates on the long sides. The existing 99 gates (including 67 truck loading gates and 32 van gates) enable an optimized supply chain. On the west side of the building there are offices with an internal ceiling height of 3 meters. In the storage rooms, this is 7.5 meters. There are 42 covered van parking spaces on the eastern side. There are also 64 uncovered van parking spaces, 80 car parking spaces and 10 truck parking spaces.
The property is also impressive in terms of sustainability. 24 truck parking spaces have been prepared for electric charging stations. In addition, there is a photovoltaic system with an area of around 11,000 square meters on the roof, which is operated and subleased by a third party. The building has the BREEAM “Very Good” certification.
The last-mile logistics hall is leased to Österreichische Post AG on a long-term basis.