Berlin: TLG lets 7,800 sqm in Moabit
A public institution has leased roughly 7,800 sqm office space on Kaiserin-Augusta-Allee 104-106 in Berlin-Moabit. The ten-year lease begins in Q2 and also includes 64 parking spaces. The new tenant will be moving into the space in the “Spreétage” building immediately after the current main tenant vacates, lessor TLG Immobilien reports. This boosts the annual net rent for the building by more than 50 % “to a level in line with the location and the market.” The EPRA vacancy rate is now at about 0.5 % and the average remaining lease term (WALT) increases by 5.2 to 8.0 years. TLG had acquired the 14,900 sqm property built in 1996 with a 13 % vacancy rate back in 2014.
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