Credit: Aspen Group

Catella Property advises on the purchase of a food self-service market

redos institutional GmbH has acquired a specialist store in Kirchberg (Rhineland-Palatinate) for the fund “redos Einzelhandel Deutschland II” managed by Union Investment, which is let to a food retailer. The seller is Aspen Group. Catella Property acted as advisor to the buyer in the transaction.

Built in 2000, the self-service store has just under 4,000 sqm of rental space on a plot of land measuring approx. 15,000 sqm. The full-range supplier with direct connection to the B50/B421 traffic junction is an important source of local supply for the surrounding area.

Diane Becker, CEO of Catella Property GmbH: “We are experiencing a strong interest in sustainable and well-let properties in B and C cities. Food speciality stores remain the focus for investors”.

The parties have agreed not to disclose the purchase price.

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