(DÜSSELDORF, GERMANY) Hines, the international real estate firm, announced today that it has reached agreement with Oliver Wyman, a leading global strategic consultancy, on a lease for the Kö-Quartier. The project, in the Düsseldorf Central Business District, is a joint venture by Hines and a German pension fund.
"We're delighted to have found another prestigious tenant for the Kö-Quartier. Oliver Wyman is an excellent fit for the property itself and for the tenant mix. That means that 80 percent of the space in the Kö-Quartier is now pre-leased. We see that as a clear vindication of our strategy of offering high-quality office and retail space," says Benjamin Biehl, Managing Director at the Hines office in Düsseldorf.
After its scheduled move into the Kö-Quartier in mid-July 2019, Oliver Wyman will have access to exclusive office space and meeting rooms for its staff and customers.
The Kö-Quartier, at the heart of the Düsseldorf city center, forms an impressive group of buildings around Königsallee, Benrather Strasse, Breite Strasse and Bastionsstrasse. It will have approximately 55,000 square meters of leasable floor space and 420 underground parking spaces. Along with the five existing buildings, three new buildings will be constructed around Benrather Strasse and Breite Strasse. They are due for completion by early to mid-2019. Architectural accents and the prominent corner construction will greatly enhance visibility and appeal. Defining features of the three buildings are the impressive entrance areas. On completion, the new section of the project will offer about 16,000 square meters of state-of-the-art office facilities as well as 2,000 square meters of exclusive retail locations. The flexible and efficient floor plans permit optimal adaptation of the space to meet the needs of a demanding clientele.
In terms of quality and timelessness, the new construction represents a seamless, contemporary re-interpretation of the style and architecture of the existing heritage-protected buildings of the Kö-Quartier along Königsallee. At the same time, premium materials and advanced technologies will ensure that the new buildings meet users' high expectations.
The entire project will be the first commercial development to be certified under the DGNB Platinum Standard. Following pre-certification of the new buildings under that standard, the goal is now to obtain full certification for the Kö-Quartier as a whole.
Also involved in the leasing transaction in an advisory role was the Düsseldorf office of the property agency CBRE.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 50+ cities across nearly 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 4,700 professionals around the world who help clients optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.