X+bricks buys 14 Netto grocery markets with new leases
The young real estate company x+bricks has acquired a portfolio of 14 grocery markets with a total of about 15,600 sqm lettable space. According to company information, the markets are located all over Germany, all of them have Netto brand discounters as anchor tenants, and all have new leases with terms of at least 15 years. The acquisition has boosted the remaining lease term of the x+bricks portfolio to 9.3 years. In addition, the markets all satisfy Netto’s current space requirements. X+bricks, which was founded only ten months ago by former Corestate MD Sascha Wilhelm, now holds 40 assets.
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