HIH Invest Real Estate (HIH Invest) has sold an office and commercial building in Magdeburg. The buyer is GETEC Immobilien GmbH. The property portfolio holder is a subsidiary of the energy and services group GETEC. The property at Halberstädter Strasse 32 in the Sudenburg district was part of a special property fund managed by HIH Invest.
Built in 1996 on a plot of land measuring approximately 37,000 square metres, the property has a total area of 11,282 square metres. Of this, 7,656 square metres are retail and warehouse space used as a car dealership and 3,409 square metres are office space. The property for sale also includes a 216 square metre warehouse and 54 parking spaces.
The main tenant in the building complex is Dürkop GmbH, a multi-brand car dealer of the DELLO Group with 16 locations in Germany. It operates an Opel, Kia and Fiat dealership at the site.
“We are delighted to have found the right buyer for this asset in GETEC Immobilien GmbH. Magdeburg is an interesting location for property buyers, which will be further enhanced in particular by the forthcoming establishment of the Intel chip factory. The micro-location near an access road to the B 71 motorway and the generous parking space situation are ideal for a car dealership,” says Daniel Asmus, Team Leader Transaction Management Office Germany at HIH Invest.
HIH Invest received legal advice from Ashurst. BNP Paribas Real Estate from Leipzig acted as broker.
