Palmira Capital Partners relets entire 16,000 sq m logistics asset near Hamburg on 15-year lease
Palmira Capital Partners has successfully re-let a 16,000 sq m logistics property in Elmenhorst, near Hamburg. The new occupier of the property, which is owned by the German Logistics Fund (GLOF), is the Reisswolf company. The lease is for a term of 15 years. CBRE Hamburg brokered the transaction.
The previous occupier was office goods supplier Office Depot, whose lease had expired as scheduled. A 9,000 sq m section will initially be sublet to Storebest for two years. The sublease was brokered by Realogis.
The logistics centre has formed part of the GLOF portfolio of 16 properties since the beginning of 2013. The fund, a real estate special AIF managed by Palmira Capital Partners and TH Real Estate, invests in high-quality properties in sustainable German logistics locations with strong tenant demand.