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Palmira and Crossroads acquire 36,150 sq m light industrial property in Bochum for First Business Parks

Palmira Capital Partners (Palmira) and Crossroads have acquired a light industrial property in Bochum for their joint venture "First Business Parks". The vendor is a private owner. The purchase price is 15 million Euros.

The property, situated at Harpener Feld 34, has an around 35,350 sq m logistics building and several ancillary buildings totalling ca. 800 sq m. Over 32,800 sq m of the lettable area is warehouse space, plus around 3,100 sq m of offices. The occupancy rate is close to 95%.

41 firms occupy space in the property. The main tenant is the storage company MyBox.

Constructed in 1971 and refurbished in 2005 and 2011, the property is centrally situated in the Ruhr region. It has very good road access via the nearby A40 and A43 motorways.

Agency firm Aengevelt acted in an advisory capacity.