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GIEAG acquires fully leased commercial property in Karlsruhe with 32,300 sqm of space

Munich, 30. November 2016, 18:08

GIEAG Immobilien AG (GIEAG) has acquired an approx. 19,480 square meter property with two fully leased commercial properties in a good location in Karlsruhe. The buildings with a total rental area of approx. 32,300 square meters are leased to a large German telecommunications company. The acquisition completed today will increase GIEAG’s annual rental income by around EUR 3.1 million. The total investment volume, including planned refurbishment costs, amounts to around 52 million euros for GIEAG.