Garbe Industrial Real Estate has acquired a former industrial site in Gera, in the German state of Thuringia, to build a 28,000 square metres logistics and commercial property. The 48,000 square metres conversion site is part of a former dairy farm, and the seller is FAB Grundbesitz, a group of companies with a strong focus on the real estate markets in central Germany. Construction is scheduled to begin in April 2024 and be completed in Q2 2025 at a cost of €34 million. First, the remaining existing buildings of the dairy plant, which has burned down several times, will be demolished.
In addition, the site is ideally located between the city centre and the A 4 motorway, the A 9 motorway is only 17 kilometres away, while a tram stop provides a quick link to the centre of Gera. Colliers Leipzig acted as an intermediary in the acquisition of the property.
Source: propertyeu.info on the 29th of may 2023
https://propertyeu.info/Nieuws/Garbe-Industrial-Real-Estate-to-invest-34m-in-Gera-logistics-project/8333dfab-9520-40d5-afc2-689f5b668645