85% of Tishman Speyer's OpernTurm let (DE)

The international law firm K&L Gates LLP as well as the private equity firm 3i Germany will move into Tishman Speyer's OpernTurm in Frankfurt. Thereby approximately 85% of 66,000 m² overall leasable space in the OpernTurm has been long-term let with an average lease duration of more than 13 years.

"The two most recent signings prove that quality prevails also in times of difficult market phases", according to Dr. Markus Wiedenmann, managing director of Tishman Speyer. "With an occupancy rate of 85% shortly before completion, we are optimistically looking forward to the year 2010."

K&L Gates rents approximately 3,000 m² of office space and will move into two floors of the OpernTurm in July 2010. "Our commitment at a strategic level to Frankfurt and Germany at large and the anticipated growth is perfectly reflected in this premier office location," explained Dr. Rüdiger von Hülst, administrative partner of K&L Gates' German practice.

3i Germany rents approximately 750 m². The move-in is also scheduled for July 2010. Dr. Ulf von Haacke, managing director of 3i Germany: "We were looking for a property which fulfils two important requirements for us: a modern office building featuring state-of-the-art technology as well as an excellent inner-city location. The OpernTurm is almost a perfect match with our demands."

CB Richard Ellis GmbH functioned as the consultant for both lettings.

The 170 meter high OpernTurm with a total leasable space of 66,000 m² will be one of the first new office high-rise developments in Europe to be certified according to the environmental standard LEED-Gold. The list of first class tenants, in addition to those mentioned above, includes names such as UBS Deutschland AG, Allen & Overy LLP, Ashurst LLP, Morgan Lewis & Bockius LLP, BlackRock Investment Management (UK) Limited as well as Manufactum GmbH & Co. KG.

Source: Active Consult

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