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Union Investment invests €60 million in the transformation of the Meister Areal on Virnsberger Strasse in Nuremberg

The course is currently being set for the future of the former 100,000 sqm Meister Areal retail park on Virnsberger Strasse: A modern and almost energy self-sufficient city logistics hub with around 20,500 sqm logistics spaces and a new local supply centre for residents and employees is being built in a sought-after and very well-connected location in the western part of Nuremberg. The project was given the go-ahead with the signing of a long-term lease agreement with the EDEKA Group. The project is backed by the owner of the existing property, Union Investment. The comprehensive refurbishment with a project volume of around €60 million is being financed by its open-ended real-estate fund UniInstitutional German Real Estate. The building application has already been submitted to the building authorities of the City of Nuremberg and approval is expected in the first quarter of 2025.

Source: press release sent 14 Oct 2024