HOCHTIEF Projektentwicklung sells CasaNova Stuttgart office building
Private investor acquires property on Stuttgart’s City Ring—Just under half the space is let
(firmenpresse) - HOCHTIEF Projektentwicklung has sold CasaNova Stuttgart on Paulinenstrasse: PlusAlpina Real Estate Advisors—a subsidiary of Conren Land AG—acquired the office and commercial building for the portfolio of a private investor. It was agreed that no details of the purchase price would be disclosed. Almost 50 percent of the almost 12,000 square meters of rental space have been let. Completion is scheduled for the end of 2011.
CasaNova Stuttgart on Paulinenstrasse comprises an eleven-story high-rise and an adjoining five-story main building with an additional set-back floor and roof terrace. To create CasaNova, the developer is thoroughly revitalizing and expanding the former corporate headquarters of the Reader's Digest publishing house, Das Beste. The floors of the two respective buildings will be connected to create through levels and the existing underground garage with 146 parking slots will be modernized. The rental space is made up of 8,500 square meters for offices, 2,600 square meters for storage and 800 square metres for retail use. The retail space has already been fully let: Oesterle Orthopädie-Schuhmode will be taking 250 square meters on the ground floor while Ligne Roset recently secured 550 square meters and will be opening a furniture store. The auditors BDO AG will be using almost 1,800 square meters, and the legal firm GSK Stockmann + Kollegen has taken out a lease on over 1,700 square meters. Colliers Bräutigam & Krämer acted as consultants for the vendor.
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Unternehmensinformation / Kurzprofil:
HOCHTIEF is one of the leading international providers of construction-related services. With more than 70,000 employees and a sales volume of EUR 20.16 billion in FY 2010, the company is represented in all the world‘s major markets. The Group‘s service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 53 percent), the Group is market leader in Australia. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.
HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in Europe and in selected regions worldwide. The company plans, develops, builds, operates and manages real estate and infrastructure facilities. HOCHTIEF Solutions is the management company of the Group’s Europe division which employed around 15,000 people around the globe in fiscal 2010. In many regions and segments, the company is a market and innovation leader.
HOCHTIEF Projektentwicklung is a fully owned subsidiary of HOCHTIEF and organizationally related to HOCHTIEF Solutions. Since 1991 the company has been developing, realizing and marketing real estate projects in Germany and abroad and is considered Germany’s leading inner-city developer. Its core business comprises office buildings in central business districts and areas within easy reach of city centers. It also focuses on retail properties, residential properties and accommodation for senior citizens, and the development of entire urban quarters. Hotels, distribution centers and special-purpose properties are also among the product market segments which the company addresses. HOCHTIEF Projektentwicklung does not build up any property portfolio of its own but operates as an “interim investor” with the goal of selling its projects to a final investor as swiftly as possible.
HOCHTIEF Solutions AG
Communications
Gabriele Stegers
Head of Communications Real Estate Solutions
Alfredstrasse 236
45133 Essen
Germany
Tel.: +49 201 824-2282
Fax: +49 201 824-1728
Email: gabriele.stegers(at)hochtief.de
Datum: 30.08.2011 - 10:02 Uhr
Sprache: Deutsch
News-ID 1035135
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contact information:
Contact person: Gabriele Stegers
Town:
Essen
Phone: 49 201 824-2282
Kategorie:
Real Estate & Construction
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