Stuttgart: Württembergische sells “Focus 21” to Catella
Insurer Württembergische Lebensversicherung sold the office building “Focus 21” in Stuttgart to Catella Real Estate at the end of December. The purchase price, as TD learned from market insiders, was over €30mn. The building on Presselstraße 10 has 8,100 sqm lettable space and was completed in 2002. The fully-leased property is used, among other tenants, by Takkt AG, who occupies nearly half of the building. The seller has leased space in the building as well. JLL brokered the deal and advised for Württembergische. The seller was legally supported by CMS Hasche Sigle, Stuttgart. The buyer was advised by DLA Piper and Arcadis.
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