Union Investment has acquired a logistics project in Nuremberg region in Germany. The first step - the transfer of a site comprising around 150,000m² in Buchschwabach-Roßtal in the Furth district has already been completed. The scheme comprising 81,200m² of logistics space will be constructed on Stuttgarter Straße by March 2021. The other purchase price instalments for construction of the warehouses will be paid in line with the agreed payment plan and construction progress by the completion of the building. The parties have not disclosed the purchase price.
“The Nuremberg region is highly attractive for logistics and light industry due to its central location in southern Germany,” said Stephan Riechers, Senior Investment Manager Logistics at Union Investment. “Because the region isn’t limited to one sector such as automotive, demand for logistics space is rising at present. Suitable space is in short supply, in both existing and new buildings, not least due to the difficulty in obtaining building land. As soon as space comes onto the market, it’s snapped up relatively quickly.”
The project will offer a total of around 63,000m² of warehouse space, 10,000m² of mezzanine space and 6,500m² of offices. Two warehouses will be built, each consisting of three sections of around 10,500m², making flexible subdivision possible. This ensures a high level of suitability for other tenants in the future. The plans also include parking spaces for 309 cars and 16 trucks. The site is located approximately 20 kilometres south-west of Nuremberg, between the A6 and A9 motorways. The logistics complex is leased to the seller dataform dialogservices for 20.5 years from the date of completion.