blackolive brokers striking office property in Frankfurt's banking district
Frankfurt / 13.12.2021
The investment and project development company QUEST Investment Partners has acquired the striking corner office building at Mainzer Landstraße 41-45. The seller of the property is a French institutional investor. He sold the nine-storey property with over 7,000 sqm of office space and 29 underground parking spaces as part of an asset deal through his local management partner IC Asset Management. An attractive feature of the building, which was constructed in 1998 and modernised in 2009, is that each floor has a balcony or terrace with a unique view of the Frankfurt skyline. Thanks to the flexible floor plans, the spaces can be used as individual or open-space offices.
Luis Walther-Kraft, Head of Transactions & Partnering at QUEST Investment Partners, explains: "We plan to further enhance the good building structure over the next few years through an active management approach. The current vacancy rate of approximately 50 percent of the rental space allows for a direct repositioning of the property. Initial talks with prospective tenants are already underway."
Thanks to its central location, the property is optimally connected to all transport routes: The main railway station and the Taunusanlage S-Bahn station are only a few minutes' walk away, and the international airport and the A5 and A66 motorways can also be reached quickly.
Colliers and blackolive, a member of the German Property Partners (GPP) network, acted as exclusive agents in a structured bidding process. For QUEST Investment Partners, SNP Schlawien provided legal advice, HANSA Partner Rommel & Meyer tax advice and Bohnzirlewagen technical advice. The seller side was legally and fiscally advised by Hogan Lovells and technically advised by CBRE.