A novelty for Stockstadt Taunusstrasse: DCI acquires retail park
The Taunusstraße retail park in Stockstadt, northern Bavaria, is a new addition to DIC Asset’s commercial portfolio: the property was transferred to the leading portfolio holder of German office properties for around 25 million euros.
The centre has a leasable area of around 9,100 sqm. The principal tenants include the local suppliers Rewe and Drogerie Müller, which together occupy around ninety percent of the space on a long-term basis.
Not to be forgotten: the average remaining term of the leases (WALT) was over eleven years – with annual rental income of around 1.4 million euros. This results in a gross acquisition return of around 6.1 percent.
City: Stockstadt
Agent: Lührmann Düsseldorf
Buyer: DCI Asset