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The industrial park Weikersdorf south of Vienna with more than 21,400 square meters of industrial space was acquired by Westcore Europe. The seller is the Canadian real estate fund Granite REIT. The industrial park consists of a mix of industrial and additional office areas. Around 50% of the space is rented to the car body supplier Magna Cosma.
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As part of the transaction, outdoor areas were acquired that are to be developed with an expansion potential of 45,000 square meters in the coming years. The 9,000 square meters that are currently still available, consisting of halls and offices, are to be renovated and rented out in small parts over the next few months.

Marc Brutten, CEO of Westcore Europe, said: “With this excellent addition to the Westcore portfolio in Austria, we now have over 160,000 square meters of space with solid income in one of the strongest business locations in Austria. The numerous opportunities for appreciation are made possible through renovation measures and proactive letting through our local asset management and rental team lifted. ”

Johann Sebastian Kann (Head of Acquisitions Austria, Westcore Europe) was in charge of acquisition and transaction management for the buyer. Granite REIT sold the property as part of a consolidation of the existing industrial property portfolio and was advised by CBRE Capital Markets.

The property is located west of Wiener Neustadt, about 30 minutes by car from Vienna. The economic region is attractive for numerous companies and the location of the Civitas Nova Business Park and the Eco Plus Business Park. Numerous shopping opportunities and shopping centers as well as educational institutions round off the advantages of the business location. Weikersdorf has excellent connections to the A2 motorway.

Image sources: AIF

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