QUEST Investment Partners has acquired another property in Berlin Mitte, in the direct vicinity of the Zeitungsviertel. The seven-storey office and commercial building dates back to 1996 and is located at Alte Jakobstraße 83/84. It comprises a rental area of approximately 5,350m², of which around 4,500m² can be used for customisable office spaces. The retail premises on the ground floor are let to the food retailer Netto under a long-term lease. The office spaces in the multi-tenant property are almost fully let, the main tenants being a publisher of comics and children’s magazines and an agency for digital marketing. The building's own underground car park features 43 parking spaces. The seller is a private individual. The purchase price has not been disclosed.
"As is typical for our developments, we want to rebrand this project and significantly improve the quality of the office space, façade and lobby, as well as the unused courtyards and terraces", said Jan Rouven Kunzel, Managing Partner at QUEST Investment Partners. “We continue to see stable and even increasing demand for multi-tenant properties in central locations of major German cities. The coronavirus pandemic does not change that."
The building is within walking distance of the Spree Canal, between the Zeitungsviertel and the office location of many tech and start-up companies in Kreuzberg. It boasts excellent public transport links with the underground stations Spittelmarkt, Heinrich-Heine-Straße and Moritzplatz as well as various bus routes in the immediate vicinity.