Deutsche Lufthansa becomes next key tenant at THE SQUAIRE (DE)

Joining KPMG and Hilton, another key tenant is about to move in at THE SQUAIRE. Deutsche Lufthansa AG has decided to rent approx. 18,500 m² at this premium property at Frankfurt Airport.


The Lufthansa signing brings the occupancy rate up to approx. 82%.

A corresponding letter of intent specifying the details of the lease was signed on August 8, 2011, with the lease itself to be finalized within the next weeks. As of spring 2012, about 1,000 employees of Germany's largest airline will start working out of their offices in the 660 meter long building atop the ICE high-speed train station. The Lufthansa signing brings the occupancy rate up to approx. 82%.

"It is a pleasure to welcome Lufthansa aboard as yet another prestigious corporate," comments Dr. Wolfgang Schäfers, member of the management board of IVG Immobilien AG, on the agreement with Germany's flag carrier.

"With three key tenants in place and an occupancy rate above 80%, our letting strategy is right on schedule. Our future efforts will focus primarily on the marketing of small or mid-sized units as well as flexible office concepts, and on optimizing the intrinsic value of the complex."

With the construction of the building largely completed, and with numerous restaurants and retailers now open for business, the letting of small-space units at THE SQUAIRE has picked up considerable momentum in recent months. Indeed, several leases for a total floor area of around 3,600 m² were signed during the past few weeks alone.

Software developers Jedox and Fabasoft, financial service provider MPC and the business consultancy Plenum, among others, will occupy office space at THE SQUAIRE. A dentist joint practice, another restaurant, Alex, and a drug store (of the Ihr Platz chain) will supplement the service, gastronomy and retail spectrum in the building.

Source: THE SQUAIRE GmbH & Co. KG

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