Norton Rose Fulbright advises GARBE Industrial Real Estate and BREMER Unternehmensgruppe on lease of commercial property to German car manufacturer

The global law firm Norton Rose Fulbright has advised GARBE Industrial Real Estate GmbH and BREMER Unternehmensgruppe in a joint venture with the Quakernack Unternehmensgruppe on the leasing of an 82,000 square metre hall area in Bitterfeld-Wolfen to a well-known German car manufacturer.

The leased hall area is located in the "Technologiepark Mitteldeutschland” (Technology Park Central Germany) on a 222,000 square metre site near the Bitterfeld-Wolfen motorway junction. The location of the site is particularly attractive for car manufacturers due to its convenient location and proximity to the production site in Leipzig. About 40,000 square metres of the hall have already been completed. In the second quarter of 2024, the extension area of about the same size should also be ready for occupation. In total, the property is being built in three construction phases and comprises 113,000 square metres of hall space.

The joint venture is striving for the property to be certified according to the Gold Standard of the German Sustainable Building Council (DGNB). A photovoltaic system will be installed on the entire roof area, as well as air-source heat pumps for heating. 

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

BREMER AG, headquartered in Paderborn, is a leading company in Germany for the construction of prefabricated reinforced concrete elements. Its range of services includes the construction of office buildings, furniture stores, logistics buildings and hypermarkets. In addition, the company also acts as a general contractor for corresponding construction projects.

Norton Rose Fulbright advised the joint venture on the purchase of the land as well as on the negotiations and conclusion of the general contractor agreement and the lease agreement. The team was led by Hamburg partner Patrick Narr (lead, Corporate/Real Estate). In addition, Counsel Dr Tobias Block (Real Estate, Hamburg) and Senior Associate Malte Meyer (Corporate/Real Estate, Hamburg) advised.