Hines has expanded its portfolio in Stuttgart with the acquisition of the Plieninger Straße 140 office building. The asset is located in an emerging market in the south of Stuttgart, strategically located between the city airport and the city centre. The property area comprises approx. 47,000 m² with approx. 22,000 m² of office space, which is fully let to Daimler. The purchase price was undisclosed.
The South of Stuttgart is a particularly promising sub-market of the city, due to the current development of various companies. The South has also strongly profited from the development of the city airport as well as the fair trade center. The location is highly appreciated by larger companies, especially due to the close proximity to Stuttgart’s interchange and the main road B27, which has attracted a high level of quality in urban development.
Senior Managing Director of Hines Immobilien, Alexander Möll, said: “The property at Plieninger Straße 140 is an excellent asset, especially because of the excellent tenant creditworthiness of Daimler and due to the close proximity to the Stuttgart Airport. We are absolutely convinced of the strategic benefit of this investment.“
