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

Neuburg/Danube, April 14, 2021 - 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 due to a new plot of land adjacent to the existing property. As a result, the lettable area of the entire property will increase to around 22,500 m². 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.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube, Germany Email:

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.