WeWork to Open First Location in Munich at Hines’ OSKAR Building

(MUNICH) – Hines, the international real estate firm, announced today that the U.S.-based shared workspace provider, WeWork, has signed a lease for more than 8,000 square meters of office space in the firm’s OSKAR property, a prestigious office building located on the Oskar-von-Miller-Ring road in Munich.

OSKAR will become the first WeWork location in Munich, with the company occupying four floors in the 26,000-square-meter building.

Patrick Nelson, Head of Real Estate, WeWork Europe, commented: “We are excited to announce our first location in Munich, which marks the fourth city in Germany for WeWork. Munich's tech credentials and community of start-ups, as well as established companies, make it an obvious choice for our next WeWork location. We are excited to expand in Germany, providing our 160,000+ members with access to a wider network and more business opportunities.”

Alexander Moell, senior managing director at Hines, said: “We are delighted to have secured such a high-profile tenant as WeWork for the OSKAR property. This testimony to the high quality of the building and its location will only be enhanced by WeWork’s innovative and service-driven approach.”

“WeWork represents our second prestigious letting at OSKAR, joining Condé Nast publishing house as a high-profile tenant in the building. We are confident that there will be further major lettings to follow and the building will soon be fully occupied,” said Christian Meister, managing director at Hines.

The OSKAR building was designed in 1998 by architect Richard Meier and has been revitalized by Hines with extensive renovation works since 2016. The building has the architect’s own unique signature, and along with its prestigious address and grand entrance lobby, it features the very best fittings and efficient floor plans. In addition to its public transport connections, the building also includes a large number of parking spaces. To emphasize OSKAR’s sustainability, the goal is for it to be certified in accordance with DGNB (German Sustainable Building Council) or LEED (Leadership in Energy & Environmental Design).

WeWork was advised on the lease by real estate agent NAI Apollo.

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 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.