With the support of Modesta Real Estate, the former Siemens building in the Cumberlandstrase 32-34, 1140 Vienna has been sold. The 6,600 sqm property was acquired by the Nexco Group.
In future, the building will be occupied by training organisations of the Public Employment Service Austria (AMS). The office location is characterised by its favourable infrastructure in 14th district, as well as its short distance to the Vienna city centre.
“We are very pleased that after searching for a long time, the Nexco Group were able to find a suitable location – especially as vacant properties in strategic locations in Vienna are hard to come by. After intensively reviewing the Vienna property market, we were able to offer the property as an ideal office location, which also perfectly fits the company structure and the planned usage,” stressed Andreas Polak-Evans, SIOR and Managing Partner at Modesta Real Estate.
Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting...