KanAm buys state-leased offices in Wiesbaden

KanAm Grund Group has purchased Europahaus, a property located in Wiesbaden, Germany, for institutional investors. The 3-part property is leased to the German state of Hesse under a long-term lease until 2032. The tenancy agreements for five retail premises on the ground floor as well as a restaurant are for shorter terms. The property includes 25 outdoor parking spaces and an underground parking area with 139 spaces within the building complex. The first building, containing three upper levels and one lower level, was originally built in 1920 and refurbished in 1997, when the two newer parts of the property were built. Europahaus is located in the similarly named Europaviertel (European quarter), which is home to a high density of public administration buildings and residential properties. The price paid to the private Danish vendor is being kept confidential. Jones Lang LaSalle SE acted as exclusive agent for the transaction.