Mitiska REIM opens new multi-let light industrial development in Essen, Germany

Mitiska REIM opens new multi-let light industrial development in Essen, Germany

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the opening of a new multi-let light industrial development, Green Business Park Carnaperhof, in the German City of Essen.

Developed in joint venture with BVI.EU, this new business park has 32 units ranging from 140 to 1,200m2, spread across four buildings with a gross leasable area (GLA) of around 7,300m2. Strategically located close to federal roads and motorways that connect Karnap with Düsseldorf Airport, Westphalia, the Sauerland and the Rhineland, the site is easily accessible by car, public transport and bicycle.

Designed to achieve a “Very Good” score on the BREEAM in-use scale, the business park offers flexible and modular spaces for production, distribution, storage and offices to small and medium-sized enterprises (SMEs). Tenants include those from the automotive, construction, healthcare, IT and marketing sectors.

Christian Held, Investment Manager for Germany at Mitiska REIM, said: “We are seeing strong demand from SMEs for modern, sustainable and customized light industrial units. This new business park in Essen offers flexible solutions to SMEs, in addition to creating 130 jobs and becoming a new economic hub in the area.”

Axel Despriet, Managing Partner of Mitiska REIM, adds: “This new development is a continuation of Mitiska REIM’s convenience real estate strategy and an extension of our partnership with BVI.EU, following our successful mixed-use development projects in Groot-Bijgaarden and Wavre, both on the outskirts of Brussels.”

In July this year, Mitiska REIM announced the first close at €137 million of its third flagship fund, Mitiska European Real Estate Partners 3 (MEREP 3), which aims to capitalize on the accelerating opportunity in convenience real estate across Europe, targeting grocery-anchored retail parks, last-mile urban logistics and multi-let light industrial opportunities in urban infill locations. MEREP 3 aims to substantially increase the fundraising and plans further closings in the next 9 months.