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    VIH1   DE000A2YPDD0

VIB VERMÖGEN AG

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

04/14/2021 | 01:23am EDT

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.

Disclaimer

VIB Vermögen AG published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 05:22:01 UTC.


© Publicnow 2021
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Last Close Price 37,35 €
Average target price 37,08 €
Spread / Average Target -0,71%
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Martin Pfandzelter CEO & Chairman-Management Board
Holger Pilgenröther Chief Financial Officer
Ludwig Schlosser Chairman-Supervisory Board
Peter Njuguna Chief Information Officer
Henry Karanja Head-Compliance