Westcore Europe has purchased Weikersdorf Industrial Park, a 21,400-square-meter (230,000-square-foot) industrial property near Vienna, Austria. Westcore Europe purchased the industrial and office facility from Canadian-based Granite REIT.
As reported by Europe Real Estate, the property is located west of Wiener Neustadt, about a 30-minute drive from Vienna. With excellent access to major roads, Weikersdorf Industrial Park is 2 km from the junction of the A2 Autobahn and the B26.
Approximately 50 percent of the space at Weikersdorf Industrial Park is currently leased to automotive supplier Magna Cosma. Westcore Europe intends to refurbish, sub-divide and lease the vacant space over the coming months. The acquisition also included an adjacent vacant land parcel, which will provide a future opportunity to deliver additional floor space to the 45,000-square-meter (484,000-square-foot) site.
Marc Brutten, Founder and Chairman of Westcore Europe, said, “This is another very exciting addition to Westcore Europe’s growing Austrian portfolio which now totals more than 160,000 square meters [1.7 million square feet] of floor space and provides us with a high-quality income stream in one of the strongest commercial regions of Austria. The acquisition also provides numerous opportunities to improve the park through a proactive refurbishment, leasing, and development program, undertaken by our very experienced local asset management and leasing teams.”
Westcore Europe completed the deal through its local acquisition team led by Johann Sebastian Kann. CBRE Capital Markets represented the seller Granite REIT in the transaction.
For additional information, visit Deal Magazine or Immomedien.
