The family-run, Munich-based real estate company GIEAG Immobilien AG (GIEAG) has concluded a new lease agreement for office space in its MAYOFFICE development in the Pragsattel district of Stuttgart. The development’s latest tenant is Christiane Stoye-Benk’s notarial services firm, which has signed a lease for the entire 3rd floor of the building, comprising around 1,500 sq m of state-of-the-art office space plus storage areas. Christiane Stoye-Benk joins a roster of tenants that already includes ADWEKO Consulting GmbH and ISM INTERNATIONAL SCHOOL of MANAGEMENT. With the new lease in place, more than 80 per cent of the property’s modern office space has now been let on long-term leases.
MAYOFFICE is a major office development in central Stuttgart, close to Theaterhaus Stuttgart, Friedrichsbau Varieté and Höhenpark Killesberg. The scheme’s two buildings, one office and one residential, are being developed by GIEAG. Final completion is scheduled for Q2 2021. The high-quality of the development’s office and residential space are underscored by its prime location, right next to Stuttgart’s new Theaterplatz.
“Against the backdrop of the coronavirus pandemic, Stuttgart registered the sharpest drop in new office leases in Germany in 2020. According to a recent JLL study, new leases declined by a massive 56 per cent. This new lease confirms that the quality and location of our MAYOFFICE scheme enables us to defy prevailing market trends and overcome the challenging situation on the Stuttgart office market in particular”, explains Thomas Männel of GIEAG Immobilien AG.
GIEAG Immobilien AG
Philipp Pferschy
Montgelasstraße 14
81679 München
ir@gieag.de
+49 89 290516-0
PB3C GmbH
Tauentzienstr. 16
10789 Berlin
gieag@pb3c.com
+49 30 726276-152
GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange. By combining the three asset classes - office, residential, logistics - and the two service areas of development and portfolio management, the company offers stability that is unique in the market. The GIEAG team of experts is a guarantor for innovative and forward-looking concepts.
Over the past 25 years, GIEAG Immobilien AG has developed and optimised a large number of real estate projects with areas of up to 145,000 square metres and an individual investment sum of 15 to 150 million euros. Partnership, transaction security, perseverance and speed are the basis of sustainable value development for GIEAG.