M7 Real Estate has agreed a long-term extension of a lease on around 25,000 sqm of storage and logistics space in Rodgau, near Frankfurt, with the toom DIY chain. The company will be the sole tenant of the property at Benzstrasse 10. The property belongs to the M7 European Real Estate Investment Partners III (M7 EREIP III) fund portfolio. M7 EREIP III pursues a value-add strategy, concentrating on retail, office and multi-tenant properties in the industrial segment. The target markets are Germany and the Netherlands. The fund now has a portfolio of 65 properties in Germany and the Netherlands, with a total floor area of around 491,000 sq m.
