Westcore Europe has purchased a 40,000 sq. m. (430,000 sq. ft.) industrial and distribution property at Hydropark Ebergassing, Götzendorferstraße 3-5, Ebergassing, Vienna in Austria. The firm purchased the property from Canadian-based Granite REIT in an off-market transaction.
The property includes 30,300 sq. m. (326,000 sq. ft.) of industrial space in four separate buildings and 7,000 sq. m. (75,000 sq. ft.) of office space. The existing structures were mainly built in 1994, with some expansion and renovations completed in 2015. The property, which features a small hydroelectric power station, is located approximately 20 km south of Vienna, and offers an opportunity for Westcore Europe to add value in the long term.
The property is leased to Grupo Antolin until 2028. The automotive supplier manufactures and distributes automotive components for car manufacturers in the premium market, principally Audi, BMW, Mercedes, and Tesla.
Westcore Europe sourced the deal through its local acquisition team led by Johann Sebastian Kann. CBRE Capital Markets represented Granite REIT, who sold the property as part of a readjustment strategy for its industrial portfolio.
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