TD News International Location: Cologne

Cologne: DC buys SportScheck building on Schildergasse

13/02/2019 DC Values Investment Management of Hamburg has acquired the SportScheck retail building on Schildergasse 38-42 in Cologne for an institutional investor. After transfer of ownership, DC Values will take on the asset management for the property. The structure was built in 1992 and has 5,200 sqm lettable space. It was last modernized in 2018. Ralphhagedorn [...]

Cologne: Alcaro building 11,000 sqm for city logistics

30/01/2019 Alcaro Invest will be starting construction of an 11,000 sqm logistics facility in Cologne-Poll (Poll-Vingster-Straße 126-128) this year. The purchase of a 20,000 sqm vacant lot was brokered by Greif & Contzen. There is still a storage building from the 1970s on the site, which Alcaro intends to demolish in Q2. The new structure called “Log [...]

Cologne: Indigo sells commercial property to AEW

29/01/2019 AEW has bought the commercial building on Neumarkt 35-37 in Cologne for the Spezialfonds “AEW City Office Germany” from Indigo Invest. The structure was built in 1962 and revitalized in 2013 and 2018. It has 8,274 sqm lettable space with four upper floors occupied by office tenants, retail space on the ground floor, and two underground levels [...]

Cologne: Agnes Offices sold to aik fund

24/01/2019 Silver Cloud Invest has sold the “Agnes Offices” building, purchased two years ago, to a fund managed by aik. Loschelder Rechtsanwälte and BNP Paribas Real Estate advised the seller. The 5,700 sqm office property, located at Riehler Straße 33 in Cologne, was recently revitalized and is now fully let. Silver Cloud says that it has [...]

Cologne: WeWork signs for two locations

17/01/2019 WeWork will be opening two locations in Cologne. The coworking space provider has signed a lease with Allianz Real Estate for 5,200 sqm of office space in “Haus Friesenplatz”. The handover is scheduled for the spring. JLL’s Cologne office is overseeing the marketing of the space in the 15,500 sqm complex. WeWork will also open [...]

Cologne: Momeni sells Wallarkaden for €140mn

14/01/2019 Momeni is selling the “Wallarkaden” in Cologne to an occupational pension fund company from Hanover for €140mn as part of a forward sale. The office and commercial building on Rudolfplatz is being built according to plans by architects Caruso St John. Momeni will manage the property long-term. The buyers are the physicians’ pension schemes of [...]

Cologne: steady office turnover, falling vacancy rate

04/01/2019 Office space take-up in Cologne was around 310,000 sqm last year, according to a preliminary analysis by Greif & Contzen, bringing a return to 2017-level earnings. The vacancy rate fell from 3.6% to 2.6%, with companies currently having 200,000 sqm available to lease, not including space for project development. The area-weighted average rent increased almost [...]

Cologne: Bima increases leased space on Kaiser-Wilhelm-Ring

18/12/2018 The German Institute for Federal Real Estate (Bima) has signed a new 15-year lease for the office of the Federal Office for Goods Transport in Cologne with Schroder Real Estate. The 20,800 sqm office space on Kaiser-Wilhelm-Ring 23-25 will be expanded by 1,800 sqm in the adjacent building Kaiser-Wilhelm-Ring 27-29. The complex was built in [...]

Cologne: Siemens rents 10,500 sqm in “I/D Cologne”

13/12/2018 Siemens will be moving to the “I/D Cologne” quarter in Cologne’s Mülheim district. Art-Invest Real Estate and Osmab have reached an agreement with the conglomerate on a long-term lease involving 10,500 sqm in the “Haus am Platz” building. The tenant was advised by BNP Paribas Real Estate. It is planned for the almost 1,000 employees [...]

Cologne: District government leases 4,000 sqm from Momeni

10/12/2018 The district government of Cologne has signed a 25-year lease for 4,000 sqm on Börsenplatz 1 in the banking district. The building dating from 1952 has a total of 21,000 sqm GFA and has been part of the portfolio of open-ended Spezial-AIF Momeni Prime Opportunities I since 2017. The city shares the property with EY. [...]