Only a few kilometres west of Cologne is the city of Kerpen – very conveniently located at the junction of the A4 and A61. The A4 is a central German east-west axis with Aachen and Görlitz as both end points. The A61 forms an important north-south link on the left bank of the Rhine from the Dutch border to the Ludwigshafen/Mannheim area. As a location for logistics real estate, Kerpen is therefore ideally situated. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Seller uses sale-and-lease-back procedure
For Aconlog Projektentwicklung the recently acquired distribution centre in Kerpen is an interesting investment and at the same time an entry project, because Aconlog is new on the market. The distribution centre is located on an 18,200 square metre site in Kerpen’s “Lörsfelder Busch” industrial estate – just a few minutes’ drive from the nearest motorway junction and the Kerpener Kreuz junction. The distribution centre consists of two building sections. The larger part – 5,000 square metres in size – was already built in the 1970s. The extension by 2,400 square metres dates from 2004.
The seller of the distribution centre is the paper and cardboard wholesaler Kreuser Papier GmbH. The company was already founded in Cologne in 1935 and has been based in Kerpen since 1973. From here, Kreuser customers within a radius of around 200 km are supplied by its own fleet of vehicles. The sale is a typical sale-and-lease-back transaction. Kreuser continues to use the distribution centre as a tenant. The Cologne-based Aconlog Projektentwicklung GmbH was not founded until 2020 by the real estate expert Oliver Blüher and aims to focus on the nationwide development, construction and leasing of logistics and industrial properties. The Kerpen commitment is one of the first transactions to be realised. The purchase price comprises a mid single-digit million amount.
Source: Immobilien Zeitung Picture source: Unsplash