Erlangen: B&L to build retail house for €35mn
A special purpose firm belonging to the B&L Group wants to develop a retail building in central Erlangen for €35mn. A new three-story building with some 12,000 sqm of sales area is planned. Within the framework of this project, B&L is going to partially demolish and then expand the “Grande Galerie” at Nürnberger Strasse 24-26. Financing will be provided by Deutsche Hypothekenbank (Deutsche Hypo). In an interview with THOMAS DAILY, B&L’s managing director, Marco Schwartz, said that his firm hopes to launch construction in September or October and that talks with potential tenants are currently underway. No contracts have been signed as yet.
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