NEW JERSEY—Chambers Street Properties, a Maryland self-managed REIT headquartered in Princeton, has agreed to purchase a 1.07 million-sq.-ft. warehouse distribution center in Koblenz, Germany. Currently under, the facility is slated for delivery in November and will be 100 percent leased to the European operating subsidiary of an e-commerce providers on a triple-net basis until 2023.
The acquisition will be made by Chambers Street Properties, as part of its joint venture with Goodman Group, a global integrated property company.
Koblenz offers easy access between Rhine-Main and Rhine-Ruhr, major commercial/areas in Germany.
Chambers Street Properties currently owns 124 properties on three continents in 44 markets. This will be the company’s sixth acquisition in Germany.