Düsseldorf: WPP rents 36,800 sqm office space in “Mizal”
Codic Development is letting its Düsseldorf project “Mizal” in its entirety to one tenant: the communications service provider WPP Germany has signed a 15-year lease for 36,800 sqm of office space. Both parties were advised by JLL. According to the plans of the Düsseldorf firm Eller + Eller Architects, the two buildings – “Mizal major” with 19,500 sqm GFA and “Mizal minor” with 17,300 sqm GFA – will be constructed on a 1.5-hectare site at Völklinger Strasse 33 near Plockstrasse, at the edge of the Media Harbour quarter. It will have 241 conventional parking spaces, 285 spaces in a fully automatic parking system and a roof-top garden. Completion is scheduled for the 4th quarter of 2021. Codic is investing around €200mn in the project. Kreissparkasse Köln financed the purchase of the land, and is taking over the financing for the construction together with pbb Deutsche Pfandbriefbank. They provide €162mn.
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