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CBRE Trust Buys Into Warehouse Site for $77M

GRABEN, GERMANY-Goodman developed the two Graben Distribution Center buildings here late last year, and the 1.l million square feet is now occupied by Amazon and DHL.

By Robert Carr | Updated on January 10, 2012

GRABEN, GERMANY-Princeton, NJ-based CB Richard Ellis Realty Trust has joined Sydney-based Goodman Group in the ownership of two new warehouses here totaling 1.1 million square feet. The trust joined a joint venture for the ownership, paying about $77.3 million for the buildings, which are now leased by Amazon and DHL, respectively.

Goodman built both facilities, and has joined the trust in the ownership of the two buildings, located in this Munich suburb. The one-million-square-foot Graben Distribution Center I was a build-to-suit for Amazon Fulfillment GmbH, the local subsidiary of Internet retailer Amazon, which is leasing the facility through April 2022. The 73,367-square-foot Graben Distribution Center II building is being leased to Deutsche Post Immobilien GmbH, conducting business under the DHL brand, through November 2021.

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