Interim use: UBM Development and ARE lease major project in Munich to Durstexpress for an initial 3-year period
A mixed-use commercial hybrid complex is being developed on the approximately 28,800 square meter site on Munich’s Baubergerstraße.
Munich, August 31, 2020 – UBM Development and ARE Austrian Real Estate are leasing the majority of the approximately 28,800 square meter commercial site at Baubergstraße 34 in Munich-Mosach to the beverage delivery service Durstexpress for interim use.
The lease agreement was signed for an initial period of three years and covers all the existing warehouses on the site with a total area of around 9,300 square meters as well as the outdoor areas. Excluded from the lease, which can also be extended depending on approval procedures for the planned mixed-use quarter, is the existing office space on the site. Durstexpress will commence operations on August 31, 2020.
Positive signals in the current market environment
Werner Huber, Managing Director of UBM Development Deutschland GmbH, explains at the signing of the lease: “We are delighted to announce Durstexpress as an interim tenant, who will make full use of this site close to the city center in the coming years. This is also a positive economic signal in these uncertain times caused by the pandemic”.
Durstexpress Managing Director Maximilian Illers is also delighted with the signing of the contract: “After only starting out with a hub in Munich at the end of 2019, we are now receiving new orders and new enthusiastic Durstexpress customers in the Bavarian capital every day. It is therefore ideal that the operation of a second hub will enable us to further extend our service promise – namely the fast, uncomplicated, free delivery of beverages on the same day or within the desired delivery window – and expand our delivery area”.
Realogis Immobilien München GmbH acted as broker.
Joint venture for new mixed quarter
The site on Baubergerstrasse, which has been used purely for commercial purposes up to now, is currently being developed in a joint venture between UBM Development and ARE as a commercial hybrid complex with different uses such as manufacturing, skilled trades or research and development – a mix of uses that does justice to the increasing enhancement of this location close to the city center.
For this purpose, UBM Development and ARE already established a strategic partnership in May, which also includes another major project in Vienna. Construction is scheduled to begin in 2023.
About UBM Development
UBM Development develops real estate for European metropolises. The strategic focus is on the asset classes residential and office in major cities such as Vienna, Berlin, Munich and Prague. With over 145 years of experience, UBM offers all development services from planning to marketing from a single source. The company’s shares are listed in the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
About Austrian Real Estate GmbH
ARE Austrian Real Estate GmbH, or ARE for short, has been operating since January 2013 and is one of the largest real estate owners in Austria. The portfolio comprises 558 office, residential and commercial properties with approximately 1.7 million square meters of rentable space. The market value of the portfolio is around 3.0 billion euros. ARE acquires, develops and leases top locations throughout Austria.
ARE Austrian Real Estate Development GmbH specializes in project development. It is active in three areas: Project Development creates living spaces in attractive locations. Construction is responsible for ongoing site supervision and the implementation of individual customer requirements. Urban Development creates optimal solutions for up-and-coming locations and city districts.
Durstexpress GmbH was founded in November 2017 in Berlin and is a subsidiary of the Radeberger Gruppe, which belongs to the Oetker Gruppe. Through its website Durstexpress.de, the e-commerce company offers a beverage assortment of over 1,000 products and delivers free of charge on the same day or at the desired time from currently 10 German cities. More than 2,000 delivery drivers already reach several tens of thousands of customers nationwide. Around 200 employees at the Berlin headquarters provide the technical and logistical infrastructure as well as brand development, product range development and customer service for Durstexpress.de.
For further information please contact:
Head of Marketing Germany
UBM Development Germany GmbH
Tel.: +49 30 930 299 255
Mag. (FH) Anna Vay, CEFA
Head of Investor Relations & Corporate Communications
UBM Development AG
Tel.: +43 664 626-1314