Swisscanto (CH) Real Estate Fund Swiss Commercial and Stadler Rheintal AG are extending the tenancy at the Altenrhein site for another ten years.
Swisscanto (CH) Real Estate Fund Swiss Commercial ("Swiss Commercial") and Stadler Rheintal AG ("Stadler") are extending the rental agreement for around 32,000m² of industrial and commercial space on the Altenrhein Industrial Estate site by a further ten years. The seamless extension of the tenancy to the end of 2030 took place on current market terms.
Due to growth in order volumes, the successful manufacturer of rolling stock requires more production capacity in addition to the newly built plant at St. Margrethen in eastern Switzerland. It was in these circumstances that the rental agreement was renewed on a long-term basis at the previous location of Stadler in Altenrhein for almost all of the areas where the lease would have expired in 2021. With this extension the overall occupancy rate of the Altenrhein Industrial Estate is over 90%.
The fund manager of Swiss Commercial, Patrick Schmid, commented: "This follow-on solution allows to strengthen the long-term earnings stability of the fund. The tenants at the Altenrhein Industrial Estate are diverse; Stadler has been the most important user of the site for years."