Garbe announces lease deal with German car manufacturer

Garbe Industrial Real Estate has announced the signing of a long-term lease with a prominent German car manufacturer.

Garbe Industrial Real Estate has announced the signing of a long-term lease with a prominent German car manufacturer.

The car manufacturer will move into a property with a total area of around 18,500 square metres in the ‘Niedersachsenpark’ in Rieste (County of Osnabrück, Lower Saxony) in Germany.

The company said the vehicle manufacturer wants to store components for the automotive process chain in the new property.

The Hamburg-based project developer acquired the building together with two other halls a year ago as part of an asset deal from Engler Immobilien Gruppe.

“The fact that we were able to sign a long-term lease with a major, renowned company even before the completion of the property shows once again the high quality of the three project developments in Rieste and the excellent location of the site,” emphasises Adrian Zellner, Member of the Executive Board of Garbe Industrial Real Estate.

With an area of more than 400 hectares, Niedersachsenpark, about 30 kilometres north of Osnabrück, is considered the largest intermunicipal commercial and industrial area in Lower Saxony. It is located between Bremen and Osnabrück on the A 1, one of the most important north-south axes in Germany.

The Neuenkirchen-Vörden junction is only a few hundred metres away from Niedersachsenpark. The motorway junction Lotte/Osnabrück, which connects the site with the Netherlands via the A 30 motorway, is 25 kilometres to the south. Well-known companies, such as the sporting goods manufacturer Adidas, the logistics service provider Imperial and the specialist for assembly and fastening technology Adolf Würth, have settled in the commercial and industrial area.

The Garbe Industrial Real Estate Group owns approximately 150,000 square metres of the Niedersachsenpark. Three logistics properties with a total area of around 91,000 square metres are located there. The largest hall with a total area of 49,000 square metres is leased to the online tyre retailer Delticom. The property leased by the car manufacturer has a total area of 18,500 square metres, including 14,300 square metres of hall space. 

The third hall with a total leasable area of just over 23,000 square metres has not yet been allocated. “However, we are in constructive talks with interested parties and expect a deal shortly,” says Adrian Zellner.

There is approximately 19,000 square metres of hall space available in the property. In addition, there are 1,100 square metres for offices and social rooms as well as almost 3,000 square metres of warehouse mezzanine. Of the total 189 parking spaces on the outside area, 46 are reserved for the still vacant hall: 36 for cars and ten for trucks. The property is equipped with 20 dock levellers and a ground-level sectional door.