CBRE Investment Management (CBRE IM) has acquired an office building complex through a sale and leaseback transaction in Berlin’s central Mitte district near the Gendarmenmarkt square. The seller is the German telecommunications company Deutsche Telekom. The property consists of a listed building and two new buildings with a total GLA of approximately 12,400m². Deutsche Telekom will initially continue as a tenant in the property at Franzosische Strasse 33 A-C. CBRE IM is planning to refurbish the building in the medium term.
“The complex in this prime Berlin location is an impressive amalgamation of the highly prestigious former Imperial telegraph office and the new buildings. We plan to preserve its character and develop a prime quality, modern and sustainable office property,” commented Sebastian Ehrhardt, Head of Transactions Germany at CBRE Investment Management.
The listed part of the building consists of the former general telegraph office dating from 1862. The four-storey building offers around 5,000m² of GLA. A highlight is a magnificent atrium, which is currently used for events holding up to 750 people. The modern section, with its striking glass façade, comprises around 6,400m² of GLA, predominantly office space. It also includes a roof terrace and an atrium for events. The third part of the building offers just over 1,000m² on six floors and is currently entirely used as a telecommunications space. All parts are accessed by three separate entrances. The complex also includes 58 underground and 14 outdoor parking spaces.
It is excellently situated and is in close proximity to Berlin’s main transport axes including Berlin Central Station. The Hausvogteiplatz underground station is located 200 m away. A number of cultural and scientific establishments, government institutions and embassies in the direct vicinity characterise the exclusive office location.
