Aroundtown successfully signs lease agreement with a strongly expanding self-storage provider for 6,000m² for 20 years in Berlin-Reinickendorf

Aroundtown successfully signed a lease agreement with a self-storage provider for 6,000m² for 20 years at Wittestraße 38 in Berlin-Reinickendorf, thus starting the revitalization of the site as a logistics location. One of the existing buildings on this plot of land was fully refurbished according to tenant demands. The spaces were already handed over to the new tenant. From now on, private individuals, tradesmen and companies can flexibly rent storage space of 1 - 50 m² on 6,000 m² also in Berlin-Reinickendorf.

The property is part of Aroundtown commercial real estate portfolio and is located in Berlin-Reinickendorf right next to the Berlin city highway, the A100. Additionally, the subway and bus provide further access points. The site also offers further options for the construction of additional halls and buildings.

The self-storage space in Germany displays various growth opportunities due to large urban areas with high levels of population densities resulting in a lack of space. According to the European industry association FEDESSA, the market growth is approx. 15% p.a. Furthermore, tailwinds from structural trends such as urbanization and decreasing sizes of living spaces, also support the growth of Germany’s self-storage market in the coming periods.

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About Aroundtown

Aroundtown invests in income generating quality properties that have potential for value-add in central locations mainly in Germany and the Netherlands. Avisco (controlled by Yakir Gabay) holds 10% in Aroundtown followed by Blackrock at 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Alliance-Bernstein, Dekabank, State-Street, bank of Montreal and many other leading international investors. The main bond investors include ECB, GIC, Union-Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many other major institutional investors.