MGPA secures further lease agreement for Munich City Tower (DE)

MGPA, the private equity real estate investment advisory company, today announces that it has let 2,500 m² of Munich City Tower Campus Building to Go Yellow Media Group. The majority of Go Yellow Media Group's employees will relocate to the Campus building. In addition the company will remain as a tenant in two floors of the tower. Go Yellow Media commence their tenancy in August 2009.

Located in Munich's west end inside the city's Mittlerer Ring the building benefits from unobstructed views over the city and towards the Alps and is the closest high rise building to the town centre. This announcement follows the recent agreement with a health insurance company for a 3,000- m² lease and means that 85% of the Campus building has now been let. Until now the building has been the headquarters of MAN who have recently relocated to their new headquarters.

Marius Schoener, head of MGPA Germany commented, "Within the last two quarters, we have signed new leases for over 9,000 m² of space at Munich City Tower which is very pleasing and demonstrates the strength of our offering and the benefits of the good location of the building. We are very pleased to have re-let 85% of the Campus building shortly after the current tenants re-locating to new headquarters. We will now focus on leasing the premium space in the upper floors of the tower which we are confident of filling in the near term."

Source: Citigate Dewe Rogerson

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