Commodus has undertaken its first investment in Cologne with the acquisition of the property at Stolberger Straße 374 for its “Commodus Deutschland Fund II SCSp, RAIF" fund. The building has 9,000m² of lettable area, of which some 20% is currently vacant. Commodus’ overall objective is to sustainably establish itself on the Cologne market. Further purchases are in planning to help realize that goal.
Leonhard Sachsenhauser, Managing Director at Commodus, said: “We see Cologne as a truly promising investment location. High demand for office space due to sustainable economic development, competitiveness on account of various research clusters and universities as well as high quality of life ensure demand for modern office spaces. Our first investment in Cologne has a very clear objective of gaining a long-term foothold in the market.”
Some 20% of the property’s office space is currently not let. This opens up opportunities for Commodus to implement a new interior design concept, with a focus on utilisation concepts that adapt to the rapidly changing needs of innovative companies. Built in 1998, the property’s flexible structure allows for modern flexible-space offices with rental units of approximately 300 to 1,900m² per floor.
The location in Cologne’s Braunsfeld district has established itself as an alternative to downtown office locations through its accessibility via the public transport (Müngersdorf Technology Park S-Bahn station and tram along Aachener Straße) and its proximity to attractive residential areas. Braunsfeld is also home to one of the largest commercial zones in Cologne, the TechnologiePark Koln.
