Union Investment: Lease rate at 96.6 %
Union Investment signed new leases and extensions for 854,000 sqm of its real estate funds last year. The total lease rate is now at 96.6 %, which matches last year’s level (96.7 %). In Germany, contracts were signed for 475,000 sqm, including new leases for 73,000 sqm. The German office portfolio, the company reports, has reached a record lease rate of 98 %. Notable transactions in Germany were the lease of 5,300 sqm office space in Esslingen’s shopping center “Das Es” to the county of Esslingen, 2,200 sqm to Bauhaus on Otto-Brenner-Straße 9 in Hanover, and 3,200 sqm logistics space to tent wholesaler Toolport in Norderstedt. The largest new lease (9,200 sqm to Motel One in the Riem Arcaden) had already been reported.
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