(VIENNA) - Hines, the international real estate firm, has won the lifestyle brand Marc O'Polo as a new tenant for the residential and commercial building at Kärntner Straße 9 in Vienna. The first store in the new THE SCANDINAVIAN STUDIO concept will occupy 200 square meters at the prime site and open its doors at the end of September. Together with the already opened flagship boutique Nespresso Atelier, the retail space at the location is now fully leased.
Christoph Reschke, Managing Director at Hines Immobilien, said: “We are very pleased to have won Marc O'Polo as a highly attractive tenant. Just like Nespresso, the brand is an excellent fit for our property and its prime location. The two leasing successes in a challenging retail market is testament to our strategy that great buildings in prime locations will survive and thrive. In addition, we are conducting a series of talks for the leasing of the office space on the upper floor with the aim of achieving a suitable and sustainable user mix.”
Since taking over the asset management mandate, Hines has been working on the strategic realignment of the residential and commercial building. In particular, the changing retail requirements are being considered. The space, which was originally large and contiguous over several floors, has been divided into smaller units that can be used sustainably. Modernized space for office and residential tenants will be created on the upper floors. The property is part of a portfolio of a total of eight properties in Germany, Austria and France for which Hines has taken over the active asset management on behalf of an institutional investor.
The property is located in Austria's most popular shopping street and the capital’s old city center. Apple and Swarovski, as well as many other well-known retailers, are in the immediate vicinity. With the new opening, Marc O'Polo gains a coveted premium positioning and further expands its own distribution. The concept of THE SCANDINAVIAN STUDIO focuses on linear shapes and timeless colors, which, in combination with design elements, are intended to create a high-quality interior with a luxury approach.
Hines was advised by DPC Real Estate.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 62 cities in 14 countries. Hines oversees investment assets under management valued at approximately €26.3 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
1. Includes both the global Hines organization as well as RIA AUM as of 30 June 2021.
Visit www.hines.com for more information.