Garbe Industrial Real Estate has acquired a 56,000 m2 plot of land in the Meiderich district of Duisburg, in the North Rhine-Westphalia region of Germany with plans to develop a 29,000 m2 multi-user park on the site.
Construction is scheduled to begin in the middle of this year. The investment volume amounts to €40 mln.
The so-called Zeus site was formerly used by the steel industry and it will be extensively redeveloped to offer 25,000 m2 of offices and €3,800 m2 of office and social areas. The asset will be developed on a speculative basis.
‘In the process, we are contributing our many years of experience in the revitalisation and development of brownfield sites,’ said Jan Dietrich Hempel, managing director of Garbe Industrial Real Estate. Completion of the property is planned for the second half of 2023.
