News from 11/5/2007
aik: New office building acquired on Rheinufer in Cologne
APO Immobilien-Kapitalanlagegesellschaft (aik) in Düsseldorf has acquired the new office building "Gustav-Heinemann-Ufer 56" in Cologne for one of its special funds. The seller of the object on the southern edge of the inner city is Deutsche Immobilien Projektentwicklungs- und Baubetreuungsgesellschaft GmbH. The property, completed at the beginning of 2007,
consists of four segments offering a total of 6,490 sqm of office space, 89 parking
places, and a direct view of the Rhine. Immobilien Asset Management GmbH seated
in Hamburg intermediated the transaction.
Stuttgart: Commencement of construction for commercial building "Posto’s" in spring, 2008
Commencement of construction for the projected office and commercial building
"Posto’s" in Stuttgart’s inner city, originally set for the beginning of 2008, has
been postponed. Matthias Düsterdick, Chairman of the Board of the project developer
NPC North Property Consulting GmbH, announced in the newspaper Stuttgarter Zeitung that preparatory demolition work will not start until spring, as negotiations
for purchase and planning have taken longer than expected. The new building at Poststrasse 3 and 5 is to comprise two stores with a total surface area of 970 sqm, 1,450 sqm of office space on the third to sixth floor, and a penthouse. Construction is scheduled to be completed by the end of 2009. "Numerous inquiries" for the stores have already come in, states Düsterdick.
Hamburg: Norwegians acquire office building with 4,000 sqm
1st Red AG seated in Hamburg has sold, via a subsidiary, an office and commercial building in Hamburg to the Norwegian investor group BSA Capital ASA. The sales price for the building at Steinstraße / Burchardstraße
was €12.2mn. Principle tenant of the property with a total leasing area of approximately 4,000 sqm is Hamburger Hochbahn, the City's aerial railway company. IAM Immobilien Asset Management GmbH was active as an intermediary.
Düsseldorf: Tommy Hilfiger with new German headquarters in the Medienhafen
The fashions company Tommy Hilfiger is opening its German headquarters in the
Medienhafen, or Media Harbor, in Düsseldorf, leasing long-term 4,750 sqm in the office
building Alte Mälzerei (Old Malthouse) in Speditionstrasse. GermanInvest Property Group, entrusted with the marketing, announced that the object is thus completely let. The U.S. fashion firm Guess had already signed a leasing contract for 1,000 sqm in July.
Offenburg: Site development work on Aurelis area completed
Initial site development work for a new neighborhood on the Aurelis area in
Offenburg has been completed. A mixture of residences, retailers, service providers,
and commerce is being developed on a construction site measuring approximately
190,000 sqm in immediate proximity to the inner city on the plot of the former freight station. A
first parcel comprising around 14,000 sqm was sold to the firm Kaufland in last year's June. Two further construction fields in the southern part of the area are currently being marketed, Aurelis reports. These areas, it says, comprise 21,000
sqm and 7,000 sqm, and are suitable for service providers and other commercial uses.