RLI Investors lets 36,700 square metres in a single deal
RLI Investors (RLI) has let a 36,700 square metres logistics property in Melle to NOSTA Logistics GmbH, on a long lease. NOSTA Logistics GmbH had secured the property in November last year, in advance of the expiry of the still-existing lease to BLG Logistics. The company will begin moving into the space in July 2020.
The forthcoming tenant is a subsidiary of the NOSTA Group, an owner-operated family company that has been operating as a full-service logistics provider for 40 years. The company is based in Osnabruck, a few kilometres from the logistics property in Melle.
Yvonne Bronner, Asset Manager at RLI: “The prompt re-letting to NOSTA Logistics GmbH demonstrates the potential for transactions for existing large-floorplate properties in good technical condition, provided that they are in the right locations. As well as newbuild properties, older properties with established infrastructure and facilities, such as bimodal transport connections via an operational railway siding and a large number of loading bays, like our property in Melle, clearly stand out from other assets. We received several enquiries from prospective tenants interested in Melle, which we ultimately had to turn down.”
The German logistic real estate broker Robert C. Spies advised on the letting.
RLI acquired the property, constructed in 2000, for the open-end logistics property special AIF “RLI Logistics Fund – Germany II” just under a year ago.