Hines, acting on behalf of a Luxembourg-based real estate fund, has purchased Zalando Campus in Berlin. The property, situated in the Mediaspree office property submarket is currently under construction and will remain part of the fund's strategic portfolio in the long term. Hines participated in the transaction as the acquisition manager and will handle the long-term asset management for the property. The purchase price was not disclosed.
The Zalando Campus consists of two buildings and offers approximately 42,000m² of rental office space across seven floors along with 156 parking spaces. The property has been fully let to Zalando under long-term leases.
The building offers modern, open floor plans optimally designed to meet the company's evolving space requirements and enabling flexibility and ease of communication. The property will be accessed via an open, welcoming lobby, a two-story auditorium and atrium as high as the building itself. To underscore the sustainability of the Zalando Campus, the project is seeking gold-level certification under the DGNB system. The building was designed by the renowned architecture firm HENN.
Dr. Kai-Magnus Schulte, director Hines: "We have had great confidence in Berlin's excellent long-term prospects and the outstanding qualities and future outlook of Mediaspree for a long time. The Zalando Campus will be among the most advanced and sustainable buildings and will occupy one of the last available sites in the vicinity of the Mercedes-Benz Arena. With this purchase, our investor is pursuing a long-term strategy."
Hines was advised by BLP Berwin Leighton Paisner and PwC. The seller was advised by Clifford Chance. The off-market transaction was initiated by Colliers International.
