CONREN Land acquires Monza Park in Langen near Frankfurt13 Mar 2020
Frankfurt am Main, 13 March 2020 – The real estate investor CONREN Land AG (CONREN Land) has purchased a multifunctional commercial property in Langen south of Frankfurt am Main.
Frankfurt am Main, 13 March 2020 – The real estate investor CONREN Land AG (CONREN Land) has purchased a multifunctional commercial property in Langen south of Frankfurt am Main. The seller of Monza Park is an investment vehicle managed by NORKON GmbH from Leipzig, which specialises in office and logistics properties. The parties have agreed not to disclose the purchase price. The international commercial real estate services firm Avison Young advised CONREN Land on the transaction.
Located at Monzastrasse 2-4, the property comprises office and warehouse space of approximately 34,000 sq.m. divided between two building complexes. In addition, the almost fully let property has an underground car park and parking options in the outdoor area with more than 600 spaces. Among the tenants are Panasonic, Fujitsu, Henry Schein and DFS Deutsche Flugsicherung.
“Monza Park has an impressive macro-location with excellent public transport connections to Frankfurt and Darmstadt and a micro-location with ideal supply infrastructure,” says Wolfgang Schreier, Managing Partner of CONREN Land. “With this investment, we are securing a diversified cash flow and a property with further upside potential.”
Udo Stöckl, Principal and Managing Director of Avison Young in Germany, adds: “We are delighted about the successful transaction with CONREN Land AG and NORKON GmbH. Langen is a location that offers optimal conditions for business growth.”
The mixed-use property is located in a business park in north-west Langen. With the Langen commuter and regional train station right next door, it is well connected to local public transport. Frankfurt International Airport can be reached by car in 16 minutes via the A5 motorway.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. On the German market, Avison Young has been operating since 2014 and is represented at five locations in Munich, Berlin, Hamburg, Frankfurt am Main and Düsseldorf. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.