GIEAG develops 85,000 square meter commercial area near Munich

GIEAG Immobilien AG (GIEAG) is developing a commercial area of around 85,000 square meters at Finsinger Feld in Ottobrunn near Munich. In a first step, the western part of the site with more than 43,500 square meters and an investment volume of around 160 million euros has now been purchased. The second part of the site, with a size of more than 41,000 square meters, is to follow by mid-2020 at the latest. Both partial sites are currently partially built on; interim use of the existing hall areas is planned. In total, GIEAG’s project pipeline now amounts to around 1.15 billion euros with the new project.

The Munich-based project developer and property owner is planning to adapt the existing building law for the site within the framework of an architectural competition. The idea is to develop the existing use into a modern campus area that combines commercial and possibly other types of use.

“We currently see and continue to see a very attractive market situation for the development of large-scale office properties in and around Munich. In this regard, the Finsinger Feld project offers us excellent opportunities for location development in the immediate vicinity of Munich,” says Philipp Pferschy, CEO of GIEAG Immobilien AG.

The commercial area in Ottobrunn is located only a few minutes away at the southeastern city limits of Munich. The community is directly connected to the Bavarian capital and the surrounding area via the A99 and A8 motorways.