Palmira Capital Partners and Nuveen Real Estate have let a 32,900 sq m distribution property in south of Ketsch near Heidelberg in Germany to LGI Logistics Group International on a 10-year lease.
The property, which includes around 30,500 sq m of storage and 2,400 sq m of office and staff accommodation, became vacant following the insolvency of the previous occupier, but was re-let within a few weeks.
Completed in 2018, the property stands on a 67,300 sq m site in Sachsenstrasse and is part of the ICF German Logistics fund portfolio, which was launched in 2014. Palmira acts jointly with Nuveen as investment and asset manager, while Palmira Industrial Management is responsible for property management.