KGAL buys office building in Fellbach
KGAL has acquired the office building Höhenstraße 24 in Fellbach near Stuttgart for a real estate Spezial-AIF. The building dating from 1975 is currently being renovated and modernized. The conversion as well as construction of a new parking garage are to be completed by early 2019. The structure will then offer about 16,800 sqm lettable space and about 330 parking spaces. Main tenants in the property, which is already fully leased long-term, are Andreas Stihl, Synlab, and Deutsche Post Immobilien. Sellers were Braun Vermögensverwaltung of Tübingen and Hofer Vermögensverwaltung of Oftersheim.
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