Top Sale & Leaseback

Location

Unna

Spotlight

Completion in just 4 months

Value

Confidential

Square Metres

4,700 sqm lettable area

"JLL looked after us very well in every respect and achieved an excellent result."

Burkhard Liskatin, Managing Director of Nirotec GmbH & Co. KG

Once a Hanseatic town, today Unna is considered a modern university town and district administrative centre with a well-developed transport network, close to three airports and two motorways. The headquarters of the component manufacturer Nirotec GmbH & Co. KG occupied a top logistics location in Unna, comprising a 17,000 sqm site in an industrial estate directly beside the motorway access road. Built in 2008, the company's own warehouse and adjacent office building were in excellent condition. The directors wanted to sell the industrial property in a sale & leaseback transaction. A sale with a 5-year leaseback of the 4,700 sqm of lettable area was proposed.

The aim was to achieve the highest possible sale price, with the capital released used to support further market access. JLL was invited to present a pitch, outlining its marketing strategy for the property which would help find a suitable investor. In addition to the ambitious price expectations, the timetable posed a particular challenge because Nirotec wanted to put the desired scenario into effect as quickly as possible.

"The contracts were signed in just four months – the purchase price met the ambitious expectations in full!"

Marc Stolte, Director of Industrial Investment, JLL Düsseldorf

All hands on deck and under severe time pressure

The seller was impressed with the marketing strategy put forward by JLL, and JLL was exclusively commissioned to sell the property. An investor was sought who would respect and support the interests of Nirotec, the future tenant, in all aspects.

The entire sales process was structured professionally by JLL, who also provided a complete audit trail. The market for warehouse and logistics properties was good, and interest from domestic and international investors was correspondingly high. In a structured process, the highest bidders were identified, and agreement was reached to sell the property to a British capital investor. JLL negotiated a 5-year lease in addition to the purchase contract. Just 4 months after JLL was mandated with the sale, the purchase contract was signed before a notary.

Ambitious purchase price was achieved in full

The purchaser acquired the property as a means of securing a foothold in the European market; the property in Unna was one of the investor’s first acquisitions in Germany. With its sustained marketing strategy, JLL was able to take full advantage of the good market situation and conclude the desired favourable sale & leaseback deal for Nirotec. The ambitious purchase price was achieved in full and the client's targets were achieved in a very short time, thanks to JLL’s intensive approach.