8 July 2020
Union Investment acquires logistics project in Nuremberg Region
• Closing completed for 150,000 sq m site
• 81,200 sq m of logistics space to be constructed by 2021
• Acquisition for UniImmo: Global
The first step has been taken: the economic transfer (closing) of a site comprising around 150,000 sq m in Buchschwabach-Roßtal in the Fürth district has been completed. 81,200 sq m 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 completion of the building. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Global. The seller is dataform dialogservices GmbH. The parties have not disclosed the purchase price.
The site is located approximately 20 kilometres south-west of Nuremberg, between the A6 and A9 motorways. “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.”
Stephan Riechers, Senior Investment Manager Logistics at Union Investment
A total of around 63,000 sq m of warehouse space, 10,000 sq m of mezzanine space and 6,500 sq m of offices will be built in Buchschwabach in two phases. Two warehouses will be built, each consisting of three sections of around 10,500 sq m, 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 logistics complex is leased to the seller, dataform dialogservices GmbH, for 20.5 years from the date of completion. The company develops, produces and sells direct marketing services, as well as providing logistics services and fulfilment. The company’s three existing locations will be consolidated at the Buchschwabach site from 2021 onwards.
Union Investment’s European logistics portfolio currently comprises 53 properties with a total value of around EUR 2.3 Billion.
For Union Investment Real Estate GmbH