German fund Commerz Grundbesitz-Spezialfondsgesellschaft (CGS) has signed a sales contract to acquire a logistics property in Belgium for approximately EUR 54 mln. The property comprises 11 warehouses with about 75,000 m[sup]2[/sup] of logistics space near Brussels, and is fully let to French retail group Carrefour. The warehouses were built between 1997 and 2006. Two additional warehouses are under construction. Property advisor King Sturge acted for the seller Hessenatie Logistics in the transaction. Hessenatie Logistics is a 100% subsidiary of shipping company Compagnie Maritime Belge. CGS was not represented by an external advisor. The company has earmarked the facility for its EURO LOGISTIK 1 institutional property fund.
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