Modern logistics facility purchased in Flörsheim, Germany for €20.1 million
The asset is a multi-let, modern, logistics facility in Flörsheim am Main. Flörsheim am Main is located between Frankfurt and Wiesbaden and just 15km south west of Frankfurt Airport. The property fits well within the investment strategy of Aberdeen Standard European Logistics Income being close to one of Europe’s premier airports and a major population hub in an area of restricted supply, high affluence and vibrant economic activity.
Flörsheim Logistics Park was built in 2015 and offers a total area of 17,809 sq. metres, divided across two individual buildings providing a total of 14,729 sq. metres of warehouse accommodation, 2,040 sq. metres of office accommodation and 1,040 sq. metres of mezzanine accommodation. The properties benefit from a high quality construction which includes 10 metre clear height, 5 tonnes per sq. metre floor loading capacity and 22 loading doors.
The property is leased to 5 logistics tenants with a Weighted Average Unexpired Lease Term Certain (WAULTC) of approx. 6 years