Garbe Industrial Real Estate has begun redeveloping a former steel mill into a multi-user park on the Zeus site in Duisburg, Germany.
The 56,000 m2 brownfield will be transformed into 29,000 m2 of combined commercial and logistics space.
The park will consist of two multi-user halls totaling 13,500 m2, of which 570 m2 will be used for offices. Two commercial park blocks will provide an additional 14,500 m2, of which 1,500 m2 of office space.
Construction is scheduled to start in Q1 2024 with completion scheduled for December 2024, and the project is expected to cost around €50 mln.
Maik Zeranski, a member of the Executive Board at Garbe Industrial Real Estate, commented: ‘Free space in the western Ruhr conurbation is in extremely short supply − and the demand for modern commercial real estate is correspondingly high.’
Garbe has extensive experience in redeveloping brownfield sites and the company is following a binding redevelopment plan drawn up by the City of Duisburg in 2007.
Environmental sustainability is a top priority for this project. The entire roof will be covered in solar panels and the new building will be certified to the Gold Standard of the German Sustainable Building Council (DGNB).
The park is being developed without any tenants already lined up and Garbe is targeting medium-sized companies from various industries to lease space in the park.
The site in northern Duisburg is only a few hundred meters from the Duisburg-Nord motorway junction, which connects the A 59 and A 42 motorways. The site is also connected to the A 2 motorway via the A 42 and A 3 motorways. The Port of Duisburg, a major European logistics hub, is located about 3 kilometers away.
Currently, Garbe has a property development pipeline of around 2.1 million m2 in Germany and elsewhere in Europe.
