Commerz Real has sold the “Town Town CB 06” property from the “Town Town” office cluster of the same name in Vienna to the Munich-based Real IS. The purchase price was not disclosed. The business park, which was erected in 2007 and is located at Thomas-Klestil-Platz 2 in Vienna’s 3rd municipal district in the Erdberg St. Marx sub-market, encompasses a total of 19 office buildings, of which Commerz Real originally purchased six for its hausInvest open-ended real estate fund, including “Town Town CB 06”, which was completed in 2008. It had already sold four properties, meaning that there is now only one other building in the hausInvest portfolio.
“The sale is the positive conclusion to a successful repositioning with a multi-tenant concept,” explained Maja Procz, Global Head of Transactions at Commerz Real. This process began in 2018 following the departure of the sole tenant at the time, Generali. In the meantime virtually all of the total 5,200m² of leasable space has been leased to the Austrian Federal Administrative Court, Vienna Insurance Group and the City of Vienna. These moved into the property between the end of 2018 and mid-2019.
