Norton Rose Fulbright advises Garbe Industrial Real Estate on the acquisition of a brownfield site for a commercial property in Nuremberg

Global law firm Norton Rose Fulbright has advised Garbe Industrial Real Estate GmbH on the acquisition of a brownfield site of approximately 17,300 square meters in Nuremberg. In a joint venture with the Hagedorn Group, Garbe Industrial Real Estate is planning a new, forward-looking commercial project here.

A modern commercial property with a total area of around 9,100 square meters is to be built on the site, which is only a few kilometers from the city center. The investment volume amounts to around 16 million euros.

The property on Otto-Kraus-Straße in the Schafhof industrial estate is a brownfield site, a former industrial area that was previously home to a metal processing company.

The Hagedorn Group specializes in revitalizing and redeveloping brownfield sites and will soon begin with the demolition of the old industrial buildings. This also includes the remediation of the contaminated subsoil. Once the site has been made ready for construction by Hagedorn, Garbe Industrial Real Estate will realize the new building. The new building is scheduled for completion in the fourth quarter of 2026.

Internationally recognized ESG criteria are taken into account in the development of the new building. To generate renewable energy, the roof will be pre-equipped for the installation of a photovoltaic system. The building will be heated using a heat pump system. The roof will be greened in the area of the intermediate level. There are plans to install breeding and nesting boxes for birds and bats on the outside grounds. The joint venture is aiming for certification for the property in accordance with the Gold Standard of the German Sustainable Building Council, including certification in accordance with EU taxonomy.

Garbe Industrial Real Estate received comprehensive legal advice on the acquisition of the property from a real estate team from Norton Rose Fulbright in Hamburg, led by partner Patrick Narr (M&A/Real Estate). He was supported by Senior Associate Malte Meyer (Corporate/Real Estate), Counsel Dr. Tobias Block (Real Estate), Consultant Dr. Martin Hoffmann (Real Estate) and Associate Sebastian Sievers (Corporate/Real Estate).Norton Rose Fulbright regularly advises Garbe Industrial Real Estate on real estate transactions in Germany.

In addition, the law firm GÖRG acted for Hagedorn and the law firm ZENK Rechtsanwälte for the seller.