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AEW enters Austrian logistics market

The investment manager acquires a prime new logistics asset in Vienna which is fully let to DHL on an 18 years lease. AEW will now seek a BREEAM Very Good energy certification for the building as part of its asset management plan.

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The high quality cross dock facility is the company's first investment in the Austrain logistics market and was acquired on behalf of a German separate account investor. “With this acquisition we have secured a prime logistics asset for our client in a first class logistics location that serves both Austria’s largest and capital city, Vienna, and acts as a main hub for goods flowing between Northern, Central and Eastern Europe. The property is of high construction quality and offers long-term secured cash flow through a remaining 18 year lease with the world’s largest logistics company, DHL. In addition, we expect the asset to continue to benefit from the strong underlying structural tailwinds of technology, urbanisation and e-commerce, which will create further demand pressure in this already undersupplied Austrian market,” commented Christopher Thiele, Separate Account Manager at AEW.

The property is fully let to DHL on an 18 year lease (with first break at 10 years) and subleased to Österreichische Post as part of the strategic partnership between the two companies. Constructed in 2019, the asset comprises 11,600 m² of lettable area as well as c. 40,000 m² of outside space. 

The facility is situated at Logistikstraße 19 in the Hagenbrunn submarket of Vienna, with direct connections to the A5 and A8 motorways connecting Vienna to the Czech Republic and Slovakia, and to Federal Road 7 leading to Vienna’s city centre. Vienna is Austria’s largest and most important logistics market both with regards to serving the capital city’s large consumer base with its e-commerce requirements as well as the strategically important location it occupies between Central, Southern and Northern Europe.

AEW was advised by Dorda, TPA, EY and Oterea.