COLOGNE, GERMANY-Chambers Street Properties, a Maryland non-traded public REIT headquartered in Princeton, New Jersey, has reached a contract to purchase a warehouse and distribution facility measuring 1,070,126 square feet in Koblenz, Germany. The building is currently under development and it is expected to be completed in November 2012.
The facility will be fully occupied by the European operating subsidiary of an ecommerce provider until 2023. Chambers Street Properties will make the acquisition as part of its joint venture partnership with Goodman Group. For the full story, go to Europe Real Estate .
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