Garbe Industrial Real Estate leases to automobile manufacturer

News 03/08/2023

Hamburg/Bitterfeld-Wolfen, 3 August 2023 – Garbe Industrial Real Estate GmbH has recorded another successful lease as part of a joint venture with the Quakernack Group and BREMER Projektentwicklung GmbH: a well-known German car manufacturer will move into a hall area of around 82,000 square metres in Bitterfeld-Wolfen (Saxony-Anhalt, Germany), around 30 kilometres north of Leipzig. 40,000 square metres of this space have been completed. Construction of the extension area of almost the same size has already begun. Following the handover of the first rental section, the car manufacturer has started operations in Bitterfeld-Wolfen.

The property stands on a total of 222,000 square metres of land in the “Technologiepark Mitteldeutschland” (Technology Park Central Germany). This is only a few hundred metres from the Bitterfeld-Wolfen motorway junction, which connects the industrial estate via the A 9 motorway to the south with Leipzig, Nuremberg and Munich and to the north with the greater Berlin area. The convenient location, the proximity to the production site in Leipzig and the size of the available rental space were key reasons for the car manufacturer’s decision to settle in Bitterfeld-Wolfen. “The fact that we were able to win the company as a long-term tenant for both units shows how attractive the location is and reflects the currently continuing strong demand for large-volume logistics properties,” emphasises Adrian Zellner, Member of the Executive Board of Garbe Industrial Real Estate.

The property will be built in three construction phases with a total of 113,000 square metres of hall space. Of this, 40,000 square metres have already been completed and leased to the car manufacturer, as well as a further 42,000 square metres of hall space that will be ready for occupation in the second quarter of next year. The lease also includes 3,300 square metres of office space and 4,500 square metres of mezzanine space.

In addition, a unit with around 30,600 square metres of hall space that has not yet been leased was built in the “Technologiepark Mitteldeutschland”. It is designed as a multi-user property and has just under 1,000 square metres of office space and 2,700 square metres of mezzanine space. The still vacant part of the building is equipped with 32 dock levellers and three ground-level sectional doors. The floor load capacity is six tonnes per square metre. “The talks with prospective tenants are promising. Therefore, we expect to conclude a contract for this construction phase in the next one to two months as well,” says Adrian Zellner.

The joint venture is aiming for certification of the property according to the Gold Standard of the German Sustainable Building Council (DGNB). A photovoltaic system will be installed on the entire roof area to generate renewable energy. The halls will be heated with the help of air heat pumps.

The investment volume amounts to around 130 million euros. BREMER Leipzig GmbH was commissioned as the general contractor for the construction. Real estate specialist Jones Lang LaSalle acted as broker for the lease to the car manufacturer. The team led by Patrick Narr of Norton Rose Fulbright LLP provided legal advice to the joint venture.