GIEAG Immobilien AG (GIEAG) has announced a lease agreement with the rocket engineer and manufacturer Isar Aerospace Technologies for 4,500 square metres of hall and office space in Ottobrunn to the southeast of Munich. The Bavarian start-up will use its new facilities for the production of launch vehicles and as a base for testing its latest prototypes. With its new base, Isar Aerospace is joining the rapidly growing aerospace hub around the Airbus site in Ottobrunn and the currently expanding Center for Aerospace Technology at the Technical University of Munich.
“As a highly innovative start-up, our new tenant Isar Aerospace fits in perfectly with the exciting developments in and around the site. We are certain that this aerospace technology hub will become an even more attractive base for cutting-edge companies over the next few years and that the area around Ottobrunn, just outside Munich, offers significant potential across a wide range of asset classes”, says Philipp Pferschy, Executive Board Member of GIEAG Immobilien AG.
Construction work is already underway on the site to create the most state-of-the-art rocket production facility in Europe. Isar Aerospace employs the latest automated production methods to offer the most affordable launch services for satellites and satellite constellations. “With our new premises, we are increasing the space available to our company for engineering, production and testing to over 15,000 square metres”, says Daniel Metzler, CEO of Isar Aerospace. “In-house production is an important milestone on the way to our launch vehicle’s maiden flight within the next two years”.
GIEAG is currently developing an 85,000-square-metre industrial park at Finsinger Feld in Ottobrunn. In October 2019, GIEAG acquired the 43,500-square-metre western section of the property for this purpose. GIEAG is planning to develop the property into a modern campus-style business park, which will combine commercial and, potentially, other types of use. In addition, the interim use of further existing hall areas is planned. The site is located only a few minutes from the south-eastern city limits of Munich and is directly connected to the Bavarian capital and the surrounding area via the A99 and A8 motorways.
GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange as well as the Frankfurt Stock Exchange and Xetra. By combining the three asset classes - office, residential, logistics - and the two service areas of development and portfolio management, the company offers stability that is unique in the market. The GIEAG team of experts is a guarantor for innovative and forward-looking concepts.
Over the past 22 years, GIEAG Immobilien AG has developed and optimised a large number of real estate projects with areas of up to 145,000 square metres and an individual investment sum of 15 to 150 million euros. Partnership, transaction security, perseverance and speed are the basis of sustainable value development for GIEAG.