IVG leases 8,500 m² in the south of Hamburg (DE)

The Hamburg branch of IVG Asset Management GmbH has found a tenant for its office space at Heidenkampsweg 99. Praktiker AG, a leader in Europe's DIY market industry, is relocating its headquarters from Saarland to Hamburg.

By the end of September 2012, corporate employees will move to their new offices on the city's south side.

The lease has been initially concluded for roughly 8,200 m². IVG's building, with a total of 18,000 m² rental space over 11 floors, is now fully rented. An expansion option for another 5,000 m² would allow Praktiker to locate more than 400 jobs in this building in future. Other lessees in addition to Praktiker are Greylogix and HGC.

The Head of IVG Asset Management GmbH's operations in Hamburg, Lars Flechsig, feels that the property's location on the city's south side makes it the perfect back-office site.

"We are glad that Praktiker appreciates the advantages of the location and our property. We are optimistic that our customer will remain loyal to the location for many years, as many other renowned companies have."

Savills helped negotiate the lease.

Source: IVG Immobilien AG

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