Reliable tenants with excellent credit ratings constitute another important stakeholder group for the company. Our tenant base includes both medium-sized, regional companies and multinational corporations. We maintain lasting business relations, based on a spirit of trust, with our tenants, which is reflected in long-term rental agreements and, consequently, predictable rental incomes. A prime example of this is the long-term partnership with the tenant of our inaugural property, the French automotive supplier Faurecia. The rental agreement for this logistics facility, which was developed specially for the customer, has been in place since 1993 and, in 2013, was renewed for another ten years.
With a view to good customer relations, the inhouse management of our properties has always been impor tant to us. With an experienced team of property managers, we work closely with our tenants and know their requirements inside out. As a result, we not only gain a clear picture of the condition of our properties, but are also in a position to find tailored solutions. And this is exactly what our tenants value. It is also reflected in the vacancy rate, which has been very low for many years and which most recently stood at a mere 0.8%.
Our tenants in the Logistics/Light Industry segment include companies such as the Rudolph Group, Audi and Continental. In the retail segment, our tenants include companies such as Rewe, Edeka, garden centre chain Dehner and Baywa Gartenmärkte GmbH & Co. KG.