AXA Real Estate Investment Managers, acting on behalf of clients, announces that it has advised on four long-term lettings totaling circa 11,000 m² across the major German cities of Nuremberg, Frankfurt and Hamburg.
Nuremberg Urban Outfitters
Urban Outfitters, the US fashion and homeware label, has taken 1,450 m² of space in the Ludwigsplatz 1 building on a long-term lease. The listed building is going to be refitted in accordance with the detailed requirements of the prominent and rapidly expanding fashion label. The store is due to open in autumn 2012 and is the brand's sixth to be opened in Germany.
This attractive and long-term letting, provides a long-term source of income on behalf of the client portfolio, which is managed by AXA Investment Managers Deutschland GmbH with asset management services provided by AXA Real Estate. LÜHRMANN and EPM acted on behalf of AXA Real Estate in this transaction, with CBRE acting on behalf of the tenant.
Frankfurt Nike German HQ
AXA Real Estate, as advisor to the European Office Income Venture ('EOIV') vehicle, has agreed a major lease renewal with Nike, the global sportswear brand, at its German Headquarters located in Frankfurt.
The building, totaling 8,345 m², is located adjacent to the Commerzbank-Arena/Eintracht Frankfurt football stadium and has served as the company's German headquarters since 2006. This new long-term lease improves upon the length of the previous agreement with this important blue chip tenant.
Hamburg Stella Marine Services and HC Hanseatic Consult Starke & Partner Wirtschaftsprüfer und Steuerberater
AXA Investment Managers Deutschland GmbH, on behalf of one of its German Special Fund, and advised by AXA Real Estate, has secured the long-term lettings of approximately 1,152 m² of office space in the Vespucci Haus office building.
Stella Marine Services GmbH & Co. KG., the international shipping company and HC Hanseatic Consult Starke & Partner Wirtschaftsprüfer und Steuerberater, a firm of auditors and tax consultants, have each taken 576 m² of space and will transfer their respective headquarters to the building in the course of 2012.
Vespucci Haus is a prominent waterfront property in HafenCity, Hamburg's flagship regeneration project and the largest in Europe by land mass. The area has quickly become the one of the prime office locations in Hamburg and the building is set to further benefit from its location adjacent to the iconic Elbphilharmonie development. Angermann Real Estate Advisory AG and BHI Büro Hamburg Immobilien OHG acted as brokers in this transaction.
Matthias Leube, Managing Director of Real Estate within AXA Investment Managers Deutschland GmbH, commented: "These lettings underline AXA Real Estate's asset management capabilities and represent a continuation of our recent momentum in agreeing major new lettings for our managed German portfolios. Reaching terms with Urban Outfitters and Nike's decision to renew their lease on a longer term basis demonstrates our ability to work together with potential and existing tenants to fulfill their specific requirements, whether this be related to overall size and fit-out or highly specialized considerations such as the 'green' credentials of the building or the lease terms.
"Our continued ability to attract and retain premium international and national tenants for the benefit of our clients is also an endorsement of the quality of space we source and manage and our in-depth understanding of the evolving dynamics of the market."
Source: FTI Consulting
