GIEAG Immobilien AG (GIEAG) is starting the next phase of its major real estate project in Karlsruhe. This group of properties in Philipp Reis Straße/Rüppurrer Straße comprises the “technology building” and the “management building”. The “technology building” has around 22,000 square meters and GIEAG has now succeeded in extending its rental agreement with a telecommunications company over the long term. The next stage is to revitalise the “management building” which offers a total of around 11,000 square meters of space. Given this background, negotiations have already started with various interested parties as future global tenants. The future use and design of the building depends on the results of these negotiations, which are looking promising. In parallel, in agreement with the City of Karlsruhe, GIEAG has launched an urban development competition as part of a commissioning of multiple experts for the design and future use of the existing external areas. This competition is scheduled to end in July 2018.
Thomas Männel, a member of GIEAG’s managing board, commented: “Our project in Karlsruhe is allowing us to once again show GIEAG’s pioneering innovations for asset management and property development. The triad of the long-term extension of the rental agreement in one part of the building, the revitalisation and new rental of the other part of the building, coupled with the re-design of the external areas is allowing us to reposition the entire property. In so doing we are creating an urban development environment which is equally attractive for potential tenants and neighbours. At the same time we are increasing and securing the value of the property and the site over the long term.”
GIEAG Immobilien AG
Benjamin Johansson
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.