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Patrizia, a leading partner for global investments in real assets, has sold a retail park in Hermann-Blankenstein-Straße in Berlin-Prenzlauer Berg on behalf of its clients. The buyer of the property directly at the "Storkower Straße" S-Bahn station is a national portfolio holder who wants to keep the property in the portfolio in the long term.
Built in 2002 on a plot of around 32,400 m², the retail park comprises around 22,000 m² of rental space, spread over three building sections. There are 250 parking spaces available to customers. The occupancy rate of the property is 100 percent with an average lease term of around seven years. The anchor tenants include Toom, Poco, Fressnapf, Jysk and the food retailer Bio Company. The parties have agreed not to disclose the purchase price.
JLL advised the seller and brokered the transaction. Patrizia was legally advised by PwC. The technical due diligence was accompanied by CBRE on behalf of the seller.
