Garbe Industrial Real Estate has acquired a 54,000-m2 plot of land in the German municipality of Kupferzell, for the development of a 30,000 m2 logistics facility.
The Hamburg-based project developer plans to invest €45 mln in the development project, with construction scheduled to start in the second quarter of 2024.
The new building will be designed to meet the strict requirements of the BEG 40 energy efficiency standard (Federal Funding for Efficient Buildings). Garbe Industrial Real Estate is aiming for certification according to the Gold Standard of the German Sustainable Building Council for this project development.
'Despite the current unfavourable geopolitical and economic conditions, there is still demand for state-of-the-art commercial space. That is why we already expect to achieve full occupancy during the construction phase,' commented Adrian Zellner, a member of the executive board of Garbe.
The new building is scheduled for completion in summer 2025.
Real estate consulting firm InProReal brokered the deal.