Results

VIB Vermögen AG

04/14/2021 | Press release | Distributed by Public on 04/13/2021 23:21

VIB expands property in Schwäbisch Gmünd by 6,100 m² and extends lease for around 16,400 m² in existing building

VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, expands its property in Schwäbisch Gmünd by around 6,100 m² and at the same time extends the lease for the existing property with a rental area of around 16,400 m² for seven years.

The property is located in a heavily frequented commercial area in Schwäbisch Gmünd. Due to the tenant's increased demand for space, an expansion of the logistics facility is necessary. This can be implemented through a new building on the directly adjacent property. The total lettable area will hereby increase to around 22,500 m². The lease for the entire property has a term of seven years from completion, which is planned for the first half of 2022. Half of the roof of the extension building will be greened, and a photovoltaic system will be installed on the other half.

'We are very pleased that we can support our tenant's expansion plans and growth with an energy-optimized building,' said Martin Pfandzelter, CEO of VIB Vermögen AG.