Garbe Industrial Real Estate has acquired a site in Germany for a €28 million development project.
The Hamburg-based project developer said it has acquired the 47,000 sqm land in Schmölln for the multi-user property, which can be used for both commercial and logistical purposes.
Construction is expected to begin in the second quarter of 2023. The building is scheduled for completion in the first quarter of 2024.
The property is part of the Schmölln-Gößnitz industrial network site.
Source: https://realassets.ipe.com/news/garbe-industrial-real-estate-grabs-development-site-for-28m-project/10063255.article, on 8 November 2022