German logistics property investment firm LIP Invest has acquired a mega logistics center in the Bavarian town of Obernburg, Erlenbacherstrasse.
The recently completed logistics center in Obernburg comprises circa 70,500 square meters (m²) of hall space and on a mezzanine level around 6,500m² of office, social, and shelf storage space.
The new logistics complex, operated by the Industrie Center Obernburg, is about 20 kilometers south of Aschaffenburg and around 50 kilometers from the gates of Frankfurt.
LIP Invest bought the asset for about 100 million euros ($112.4 million) from Logistik Nord, which is planning to use three hall sections of the logistics center, with around 30,000m² as a tenant to handle its logistical activities.