20 Jul 2017
M7 Real Estate lets circa 2,700 sq m of office space to Frankfurter Lebensversicherung AG and extends lease to BDSW in Bad Homburg
Frankfurt, 20 July 2017 − M7 Real Estate (M7), the pan-European investor and asset manager that specialises in the regional, multi-let real estate market has let around 2,700 sq m of office space in the Bad Homburg “Office Mall” to Frankfurter Lebensversicherung AG. M7 is to implement a new layout there, in accordance with the tenant’s requirements and the workplace regulations.
Engel & Völkers Commercial Frankfurt advised on and brokered the deal.
In the same property, the BDSW Bundesverband der Sicherheitswirtschaft has agreed a long-term extension of its lease on 550 sq m of office space.
The “Office Mall”, at Norsk-Data-Strasse 3, dates from 1992. It has a total lettable area of around 9,600 sq m, including ca. 8,400 sq m of offices, 1,100 sq m of storage and 100 sq m of restaurant accommodation. Together with the “Office Center” at Norsk-Data-Strasse 1, completed in 1991 and providing over 10,500 sq m of office and almost 2,500 sq m of storage space, it comprises the “Office Duo” complex.
The modern multi-storey office building is situated in the eastern section of the “Südcampus” commercial area. It has good transport connections, including fast and easy access to the A661 and A5 motorways. U- and S-Bahn stations and bus stops are within a few minutes’ walk.
The property is part of the M7 European Real Estate Investment Partners III (M7 EREIP III) fund portfolio.
M7 EREIP III pursues a value-add strategy, concentrating on multi-tenanted properties in the retail, office and industrial sectors that produce steady income streams but also have asset management potential. The fund is fully invested in Germany and the Netherlands and has a portfolio of 65 properties with a total floor area of around 491,000 sq m.