DWI testing the waters in Kiel’s office market
Hamburg-based DWI Group is acquiring the office building Fabrikstraße 7 in downtown Kiel with 9,200 sqm lettable space from a Danish owner. The building with a view of the Förde is about 85 % leased long term, tenants include Vonovia and Ferring. DWI intends to focus on structural maintenance and leasing. After Frankenstraße 12/14 in Hamburg, this is another property acquired by the developer that does not involve conversion or new construction. A company spokesperson explains the move with a lack of construction sites, and that it is DWI’s first investment in Kiel. For getting to know the market, he adds, such a property is more suitable than an empty house. The deal was brokered by Negelein Consulting (Hamburg) and Laren Consulting Real Estate (Kiel), legal advice was provided by Neuwerk Rechtsanwälte of Hamburg.
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