International real estate investment manager Savills Investment Management (Savills IM) has achieved a high-profile leasing success in Frankfurt-Niederrad. Deutsche Bahn AG has extended its lease in the Hahnstrasse 49 office building in Frankfurt-Niederrad for the long term and has also increased its space by one-third to total 13,000 sqm. Part of this additional lease for approximately 4,000 sqm of rental space had become vacant as a result of the previous tenant moving out. As a result of the new lease, roughly 500 Deutsche Bahn AG employees will occupy 80 per cent of the 15,500 sqm of total space in future.
The transaction, which is one of the largest single leases in Frankfurt-Niederrad this year, means that the office building, which was constructed in 2003, is now fully let. A company in the chemicals sector occupies two half-storeys of the seven-floor property.
“We are delighted that Deutsche Bahn, one of our original tenants, has made a commitment to this location for the long term. The combination of the early lease extension and the increase in the space rented demonstrates the attractiveness of our Fund property”, said Ellen Wenicker, the asset manager responsible for the building at Savills Investment Management.
Savills Fund Management GmbH, part of Savills Investment Management, acquired the office property shortly after completion in early 2003 for its SEB ImmoInvest retail fund.
Niederrad is centrally located between the airport and the city centre, with direct links to the A5 motorway. Many well-known companies have established a presence in the Frankfurt office district, including Nestlé (German head office), T-Systems, Siemens and DekaBank, as well as German motoring association Automobilclub von Deutschland (AvD headquarters). They benefit from the area’s excellent local transport links to destinations such as the city centre, the Frankfurter Messe trade fair site, and the football stadium, as well as its national connections via the main railway station.