KOBLENZ, GERMANY—New begets new as a brand new industrial sitehere, fully leased to a new-age industrial tenant, gains a newowner. Chambers Street Properties, based inPrinceton, NJ, has purchased a 1-million-square-foot warehousedistribution center here. GlobeSt.com has learned, exclusively,that the price was just north of $79 million in an all-cashdeal.
The REIT, formerly CB Richard EllisRealty Trust, closed on its acquisition of the asset injoint venture with the Goodman Group.
The JV was established to develop a portfolio of industrialassets stemming from Goodman's own development pipeline in Europeand the UK. The asset, which is located in a city that's the hub ofindustrial transportation in Germany, is leased on a triple netbasis to Amazon.com through 2023.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
