(DÜSSELDORF, GERMANY) Hines, the international real estate firm, has let 100 percent of the units in the 16,000-square-meter multi-building asset Kö-Quartier, before the construction of the three new buildings has been completed.
Dentons, a leading global commercial law firm, has signed a lease for approximately 3,000 square meters of office space at Kö-Quartier. The development in the Düsseldorf Central Business District is a joint venture between Hines and a German pension fund.
"The rapid and very successful leasing of all office units well ahead of completion is a clear affirmation of our planning work and makes a strong statement on the quality of this development. In securing Dentons, we have gained yet another high-profile tenant for the Kö-Quartier. They are a perfect fit for the property and complement the mix of occupiers," said Benjamin Biehl, managing director in the Hines office in Düsseldorf.
"With Dentons Düsseldorf, we are opening a prestigious office at a prime location in the banking district. For us, the location and the quality of the building were the key factors for choosing the Kö-Quartier. Working with the consultants from Anteon, who supported us throughout the process, we have found the property that perfectly fulfils the high expectations of our international law firm – also with regard to the workplace concept," said Andreas Haak, the managing partner of Dentons in Düsseldorf.
When moving into the Kö-Quartier, Dentons will have access to exclusive office space and meeting rooms for its staff and customers. The facilities are also ideally suited to the firm's growth strategy. The high quality of the development has attracted other leading companies as well.
Kö-Quartier, at the heart of the Düsseldorf city centre, forms an impressive group of buildings around Königsallee, Benrather Strasse, Breite Strasse and Bastionsstrasse. It will have approximately 55,000 square meters of lettable 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, which 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.
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 is 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 entire Kö-Quartier development.
The Düsseldorf property agency Anteon was involved in the leasing transaction in an advisory capacity.
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. Further information is available at www.hines.com and www.hinessustainability.com for more details about the sustainability program and the objectives of Hines.
Since the opening of its site in Germany in 1991, Hines has acquired or developed a total of 37 properties with an overall surface area of just under 1.6 million square feet for Hines or on behalf of external clients, including properties such as the Main Tower and the Silberturm in Frankfurt, Zoom and Wohnpark Südkreuz in Berlin, Hofstatt, Uptown München and OSKAR in Munich, the Überseequartier Nord district in Hamburg, the Benrather Karree and Kö-Quartier in Düsseldorf, and the Postquartier and Kronprinzbau 1+2 in Stuttgart. Hines currently manages property in Germany with an overall value of around €3.9 billion as an asset and development manager.
Since entering Europe in 1991, Hines has grown its European platform to include a presence in 55 cities in 13 countries. Hines currently has about €16.7 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Spain and the United Kingdom.