Eurovalys acquires Frankfurt customs office for €31m

French open-ended real estate fund Eurovalys has secured the headquarters of the Frankfurt customs office in Sossenheim for about €31 mln.

The vendor of the property is an investment vehicle managed by German asset manager Norkon.

The 12,000 m2 property, built in 2004, has been fully let to the government's federal real estate agency (Bundesanstalt für Immobilienaufgaben) since its inaguration. The asset also houses the information technology agency (ITZBund).

The deal marks the third acquisition for Eurovalys in 2019, following the purchase of a single-tenant building occupied by travel agency Tui at Heidkampe 9 in Hannover, as well as the office building Balcke-Dürr-Allee 2 in Ratingen.

Advenis Real Estate Solutions acted as a transaction advisor to the buyer.

Colliers International advised the vendor.

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