(BERLIN) A joint venture between Hines, Hines, the international real estate investment firm, and a German pension fund has just signed the first lease agreement with the international law firm, ARQIS for KÖ-Quartier, which is located in the heart of the Düsseldorf CBD. CUBION Immobilien AG acted as exclusive adviser and broker for the new anchor tenant. BNP Paribas Real Estate provided advisory services to the landlord.
ARQIS is well-respected in the market for their consultation work in the fields of M&A and employment law. Furthermore, they are also the first choice for German-Japanese legal matters. The law office is expanding and will be establishing residence in an office space of around 2,800 square meters (8,700 square feet), with an option for an additional 800 square meters (2,500 square feet) in house 3 (Breite Str. 28) of Düsseldorf's flagship real estate project. The move from their current offices in Mediahafen to Breite Str. 28 is scheduled for the first quarter of 2018.
The KÖ-Quartier is located in the heart of Düsseldorf’s city center and forms an outstanding ensemble among the streets of Königsallee, Benrather Straße, Breite Straße and Bastionsstraße. The district has a total rental space of over 55,000 square meters (170,500 square feet) and 420 underground parking spaces. Apart from the five existing buildings of the district, three independent new buildings, each featuring expansive lobby areas opening onto Benrather Straße and Breite Straße, are scheduled for completion in early to mid 2018.
Upon completion, the new construction will offer approximately 18,000 square meters (56,000 square feet) of state-of-the-art office space and approximately 2,000 square meters (6,200 square feet) of exclusive retail space, which due to their flexible, representative, yet efficient floor plans, can be optimally tailored to the needs of a sophisticated clientele. In terms of its quality and timelessness, the new construction was inspired by the existing landmarked buildings of the KÖ-Quartier on Königsallee.
At the same time, the new construction is going to be outfitted with premium materials and modern technology standards, with the aim of creating the most advanced and at the same time high-quality office building in the Düsseldorf CBD and to meet the high expectations of its users. The goal is to be certified under the DGNB Platinum Standard (Deutsche Gesellschaft für Nachhaltiges Bauen [German Sustainable Building Council]).
ARQIS Lawyers is a commercial law firm with a focus on business transactions. ARQIS advises listed companies, subsidiaries of multinational groups, medium-sized enterprises as well as financial investors. At the locations in Düsseldorf, Munich and Tokyo, approximately 45 staff members are employed.
Visit www.arqis.com for further information.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 182 cities in 20 countries. Hines has $89.1 billion of assets under management, including $42.5 billion for which Hines provides fiduciary investment management services, and $46.6 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 1,126 properties, totaling over 351 million square feet. The firm’s current property and asset management portfolio includes 457 properties, representing over 193 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.
Since the opening of the German office in 1991, via Hines Immobilien GmbH, Hines has acquired or developed 36 properties representing approximately 1.6 million square meters for Hines or third parties, including high-profile properties such as Maintower and Silberturm in Frankfurt, Sony Center in Berlin, Hofstatt, Uptown München and OSKAR in Munich, Benrather Karree and Kö-Quartier in Dusseldorf as well as Postquartier and Kronprinzbau 1+2 in Stuttgart. In Germany, Hines Immobilien GmbH currently manages real estate assets with a total value of approximately €3.3 billion as an asset or development manager.Visit www.hines.com for further information.