German team advises GARBE Industrial Real Estate on acquisition of commercial site near Stuttgart and lease to Tesla

Global law firm Norton Rose Fulbright has advised GARBE Industrial Real Estate GmbH (GARBE), a leading developer of logistics and corporate real estate, on the acquisition of a site in Holzgerlingen, near Stuttgart, and the subsequent leasing of a building to electric car manufacturer Tesla Germany. 

The entire site in the Holzgerlingen industrial estate covers approximately 100,000 square metres. The existing property on the site with 18,600 square metres was leased to the US car company Tesla in the course of the transaction, which already delivers new vehicles to end customers from the site.

GARBE is also planning to construct and lease out two new buildings on the site with around 30,000 square metres of warehouse space. Initial talks are already underway with potential tenants from the commercial, light industry and production sectors. For the new buildings, GARBE is aiming for certification according to the Gold Standard of the German Sustainable Building Council.

GARBE, headquartered in Hamburg, specialises in logistics and corporate real estate, from project development and real estate management to investment and portfolio management.

Norton Rose Fulbright advised on both the acquisition of the entire site (purchase due diligence and land purchase agreement) as well as on the lease to Tesla, and is also advising on the planned new development. The team is led by partner Patrick Narr (corporate/real estate, Hamburg). He is supported by counsel Dr. Tobias Block (real estate, Hamburg) and associate Malte Meyer (corporate/real estate, Hamburg).