Nespresso to open new flagship in Vienna (AT)

Nespresso to open new flagship in Vienna (AT)

Hines has announced a new lease with Nespresso in Vienna's Kartnerstrasse. Since taking over the asset management mandate, the company has been working on the strategic realignment of the residential and commercial building at number 9. Handover to Nespresso has already taken place with opening scheduled for March 2021.

 

Christoph Reschke, Senior Managing Director at Hines Immobilien, said: "We are very pleased about the successful new lease, especially in this thoroughly challenging market environment for retail properties. With Nespresso, we have gained a renowned tenant who is an excellent match for the property and the prestigious address in Vienna's city centre. The leasing success shows that our concept for the realignment of the property is convincing. At the same time, we have started marketing the other spaces, aiming for a balanced tenant mix."

 

The realignment at Kärtnerstrasse is taking place in response to changing retail requirements. The space, which was originally large and contiguous over several floors, is being divided into smaller units that can be used sustainably. Modernized space for office and residential tenants will be created on the upper floors. The property is located in Austria's most popular shopping street and the capital's old city centre. Apple and Swarovski, as well as many other well-known retailers, are in the immediate vicinity.

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