Westcore Europe recently purchased Weikersdorf Industrial Park, a 21,400-square-meter (230,000-square-foot) industrial property to the south of Vienna, Austria from Canadian-based Granite REIT. The Weikersdorf Industrial Park includes a mix of industrial and office space, with half of the existing floor space leased to Magna Cosma, an automotive supplier.
Weikersdorf Industrial Park is located west of Wiener Neustadt airport, about a 30-minute drive from Vienna. The city of Wiener Neustadt is popular with businesses, retail outlets, and educational institutions. With excellent access to major roadways, Weikersdorf Industrial Park is 2 km from the junction of the A2 Autobahn and the B26.
Currently, 9,000 square meters (97,000 square feet) of the Weikersdorf Industrial Park are vacant, which Westcore Europe intends to refurbish, sub-divide, and lease in the coming months. The acquisition also includes an adjacent vacant parcel of land, which will provide an opportunity to deliver additional floor space on the 45,000-square-meter (484,000-square-foot) site.
“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,” says Marc Brutten, Founder and Chairman of Westcore Europe. “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.”
For additional information, visit Europe Real Estate.
