Berlin: Volkswagen rents 16,000 sqm near Alexanderplatz

16/05/2019

Schroders Real Estate has announced that it is re-letting its office building at Mollstraße 1 in Berlin, near Alexanderplatz, to a prominent DAX company. As Schroders stated, the company used “the opportunity to take back space from the previous tenant’. Schroders declined to comment further. TD has learned from market insiders that the tenant is a company of the Volkswagen Group. By all accounts, the lease for the 15,800 sqm building began on May 1, with rent reported as being approx. €28/sqm (unconfirmed). Zalando was the tenant of the former GDR state news agency building since 2013. The online retailer’s originally ran until August 2018; it was then extended and the space has now been returned. According to sources, Zalando last paid about €16/sqm for the ten-story building, which is now being redesigned for VW. Schroders acquired the building in 2014 for €34.5mn after it was renovated.


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