Stuttgart: Hines buys Allianz-Campus
Officefirst has sold the Allianz Campus on Reinsburgstraße in Stuttgart to Hines, as reported by the “Immobilienbrief Stuttgart”. The purchase price, according to TD research, was just under €340mn. BNP Paribas Real Estate had a mandate to broker the sale. The property offers 89,000 sqm lettable space and has been used by Allianz. A move is planned for when the insurance group’s new headquarters in Stuttgart-Vaihingen is completed. According to the “Immobilienbrief”, this is the second-largest single deal in Stuttgart ever, topped only by the sale of the “Milaneo” for about €400mn.
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