Arbireo acquires Netto store near St. Peter-Ording
The Berlin real estate agent Winters & Hirsch has advised a well-known German property developer on the sale of a retail property near St. Peter-Ording, a seaside town on the German North Sea coast, to Arbireo Capital AG.
The property is located on Welter Straße in the town of Garding, which has an official status as a health resort. A town with around 2,700 residents, Garding is located in the district of Nordfriesland, some ten kilometres from the popular seaside town of St. Peter-Ording.
Completed in the third quarter of 2018, the investment property is occupied by a Netto discount food store and a KiK discount fashion store.
The retail property has approx. 2,032 sqm of rental space, of which Netto rents around 1,432 sqm (including around 1,000 sqm of sales space). The KiK store has around 600 sqm.
The plot covers around 9,724 sqm and accommodates around 97 parking spaces.
The tenant Netto Marken-Discount AG & Co. KG has taken out a 15-year lease with a 3/5 years renewal option.
KiK Textilien und Non-Food GmbH has signed a 10-year lease with a 3/5 years renewal option.
Winters & Hirsch had been instructed by the seller to market the property as the sole agent and also advised the buyer on the transaction.
The notarisation of the purchase contract was performed by Dr. Börgers, notary public in Berlin.
The parties have agreed not to disclose the purchase price.