Union Investment commits EUR 60 million to transform Meister Areal in Nuremberg

Union Investment is investing EUR 60 million in the transformation of the Meister Areal on Virnsberger Strasse, Nuremberg, into a cutting-edge city logistics hub. The former 100,000 sqm retail park will be repurposed into a modern logistics and commercial center, featuring 20,500 sqm of logistics space and 15,330 sqm of commercial space. This redevelopment will also include a new local supply center anchored by EDEKA, following a long-term lease agreement with the German supermarket chain.

The project, which is located in a highly desirable and well-connected area in Nuremberg’s western district, marks a major redevelopment effort. It is financed through Union Investment’s open-ended real estate fund, UniInstitutional German Real Estate. The building application has already been submitted to the city’s authorities, with approval anticipated in the first quarter of 2025.

“After two years of intensive planning, we are excited to launch a sustainable and future-oriented concept for this prime location,” said Sven Lintl, Head of Asset Management Germany at Union Investment. “The new Meister Areal will meet the high and sustained demand for logistics space in the Nuremberg region.”

A key focus of the project is its commitment to sustainability. The transformation will see the creation of an almost energy self-sufficient site, with renewable energy powering the logistics hub. “Our goal is to develop a site that is nearly 100% independent of fossil fuels,” explained Matthias Wagner, Senior Business Expert for Logistics at Union Investment. The project will utilize air heat pumps for heating, while a high-performance 3 MWp photovoltaic system will be integrated into a green roof to promote biodiversity. The façade will also feature partial greening, while additional measures, such as hedge and tree planting and the creation of a habitat for lizards, are planned to enhance species protection.

The redevelopment will take place in four phases. Demolition of the existing buildings, including the former Real supermarket and a drinks store covering 20,000 sqm, began in October. The phased completion of the project is scheduled for 2026 and 2027.

The transformation of Meister Areal into a city logistics hub is a significant step in addressing the growing demand for climate-friendly logistics and commercial solutions in Nuremberg’s regional center.