KGAL acquires office building in Nuremberg

KGAL Investment Management has acquired the newly completed Güterwerk office building in Nuremberg for an institutional real estate fund. 

Güterwerk, Nuremberg

Finished in 2024, the property boasts a gross floor area of 13,500 m2 and has applied for DGNB Gold certification.
Situated on the former Nuremberg freight station site, Güterwerk is an integral part of an emerging digital and technology campus designed for work, living, and leisure. This centrally located campus blends industrial heritage with innovative architecture and sustainable urban planning, emphasising flexible use, social diversity, and ecological construction. 
The six-story building is fully leased to creditworthy tenants, with pharmaceutical giant Novartis Pharma occupying 81% of the space for its German headquarters. Other long-term tenants include the SAE Institute and commercial health insurer KKH.
Key features include green leases, an ecologically sound pellet heating system, smart metering, 70 electric vehicle charging stations in the underground car park, and direct access to the S-Bahn.
Britta Nielsen, portfolio manager at KGAL, commented: "The combination of ESG orientation, tenants from the healthcare industry and its location in this district means Güterwerk fits very well with our investment strategy."