HOCHTIEF Projektentwicklung sells CasaNova Stuttgart office building (DE)

HOCHTIEF Projektentwicklung has sold CasaNova Stuttgart on Paulinenstrasse. PlusAlpina Real Estate Advisors – a subsidiary of Conren Land AG – acquired the office and commercial building for the portfolio of a private investor. It was agreed that no details of the purchase price would be disclosed.


CasaNova Stuttgart.

Almost 50% of the almost 12,000 m² of rental space have been let. Completion is scheduled for the end of 2011.

CasaNova Stuttgart on Paulinenstrasse comprises an 11-story high-rise and an adjoining five-story main building with an additional set-back floor and roof terrace. To create CasaNova, the developer is thoroughly revitalizing and expanding the former corporate headquarters of the Reader's Digest publishing house, Das Beste.

The floors of the two respective buildings will be connected to create through levels and the existing underground garage with 146 parking slots will be modernized. The rental space is made up of 8,500 m² for offices, 2,600 m² for storage and 800 m² for retail use.

The retail space has already been fully let: Oesterle Orthopädie-Schuhmode will be taking 250 m² on the ground floor while Ligne Roset recently secured 550 m² and will be opening a furniture store. The auditors BDO AG will be using almost 1,800 m², and the legal firm GSK Stockmann + Kollegen has taken out a lease on over 1,700 m². Colliers Bräutigam & Krämer acted as consultants for the vendor.

Source: HOCHTIEF Solutions AG

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