Valad Europe, the multi-let real estate investment manager, has signed a new 10-year lease on 12,400 m² of office space with Job Centre Berlin at the Löwenkontor Building in Berlin Mitte.
Job Centre Berlin plans to use Löwenkontor as its Berlin headquarters.
Job Centre Berlin plans to use Löwenkontor as its Berlin headquarters, taking advantage of the 25,000 m² building's excellent central location, close to the city center, to consolidate its Berlin operations and co-ordinate the activities of its regional information offices.
A spokesperson for Job Centre Berlin, commented: "After conducting an open tender process it soon became apparent that Löwenkontor was the ideal location, not only because of its central location but also by satisfying the financial aspects of implementing the Job Centre and establishing a main administration center."
Danilo Hunker, Valad's Head of Asset Management in Germany, commented: "To have secured Job Centre Berlin as a long-term tenant at Löwenkontor is an excellent result, coming so soon after the completion of major refurbishment works last year.
"Transforming the formerly single let building into a modern, multi-let office building has allowed us to secure market-leading rents for the area, resulting in a significant competitive advantage."
With a team of 30 in Germany, operating out of offices in Berlin, Frankfurt, Munich, Düsseldorf and Hamburg, Valad manages approximately 800 million of assets and 800 tenants, on behalf of four of its 13 funds.
Source: Tavistock Communications