GIEAG Immobilien AG (GIEAG) has concluded a long-term rental agreement with the state of Baden-Württemberg from 1 June 2018 5,000 for all of the approx. 5,000 square meters of space in its office complex in Stuttgart. The state has rented the entire office complex and is thus the sole tenant in this GIEAG property in Stuttgart. The estate agent for the rental agreement was E&G REAL ESTATE GmbH, a member of German Property Partners GPP.

GIEAG only acquired this property, built in 1992, at the end of 2017/start of 2018. It is constructed on a plot of 4,471 square meters and has underground parking with 101 parking places and was acquired as a vacant property. GIEAG extensively renovated the property prior to its rental. The property has an excellent traffic infrastructure. The center of the state’s capital of Stuttgart is just 5 kilometers away. Stuttgart’s international airport and the trade fair site can be reached by car in around 20 minutes.

Thomas Männel, a member of GIEAG’s managing board, commented: “We are very pleased to have been able to achieve this major rental success in such as short time. We have found a top quality tenant in the state of Baden-Württemberg. The contract with the state of Baden-Württemberg underscores our view of the excellent quality of both this location and the property.”

Contact

GIEAG Immobilien AG
Philipp Pferschy
Montgelasstraße 14
81679 München
ir@gieag.de
+49 89 290516-0

Press contact

PB3C GmbH
Tauentzienstr. 16
10789 Berlin
gieag@pb3c.com
+49 30 726276-152

About GIEAG Immobilien AG

GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange as well as the Frankfurt Stock Exchange and Xetra. 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 22 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.

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