Tishman Speyer Announces First Lease Agreements at Frankfurt Office Tower Under Development | Announcements | Tishman Speyer


Tishman Speyer Announces First Lease Agreements at Frankfurt Office Tower Under Development

Frankfurt, Germany February 26, 2013

Tishman Speyer, one of the world’s leading real estate developers and owners, along with joint venture partner Commerz Real AG, today announced the completion of the first three lease transactions at the TaunusTurm project under construction in Frankfurt. The leases total approximately 8,100 square meters (87,188 square feet).

• HVB Gesellschaft für Gebäude und Beteiligungen, a sister company of HVB Immobilien AG and a wholly-owned subsidiary of HypoVereinsbank, has signed a long-term rental agreement for three floors totaling 4,900 square meters (52,743 square feet). The company plans to relocate from its current offices at “An der Welle” to the TaunusTurm sometime in early 2014. NAI Apollo acted as the agent for HVB.

• International law firm King & Spalding LLP will lease approximately 1,600 square meters (17,222 square feet). The firm will relocate in early 2014 from Taunusanlage 1 to TaunusTurm. Cushman & Wakefield acted as agent for King & Spalding.

• Schroder Investment Management will also lease approximately 1,600 square meters, establishing its office at the property by mid-2014. NAI Apollo acted as the agent for Schroder Investment Management.

The TaunusTurm, which is scheduled to open in January 2014, will be a 40-story 170-meter-high skyscraper, featuring 60,000 square meters (645,835 square feet) of office space. Designed by the Frankfurt firm of architects Gruber + Kleine-Kraneburg Architekten, the slender tower with its 13-meter high entrance lobby and light natural stone facade is expected to be the first new Frankfurt high-rise to boast international LEED Platinum certification. Following the successful MesseTurm and OpernTurm projects, the TaunusTurm is Tishman Speyer’s third high-rise development in Frankfurt/Main.

The construction of the TaunusTurm will considerably enhance the green belt that follows the lines of the city’s former outer fortifications. Part of the site will be used to extend the park, and to provide access by means of a promenade extending along the entire line of the ensemble. Publicly accessible spaces will enhance the area and provide further enhancement, for example in the form of hospitality outlets on the ground floor, a restaurant for staff and guests, and a business club with conference space. In addition to the TaunusTurm, Tishman Speyer is developing a residential tower whose entrance will likewise face the park.

“Frankfurt is one of Europe’s key financial centers and will remain so for years to come, with a growing need for high quality office space that is architecturally superior, flexible, efficient and sustainable,” said Michael Spies, Senior Managing Director and Head of Europe at Tishman Speyer. “The TaunusTurm is intended to help meet that need, and our early success in attracting this first group of world-class tenants provides strong evidence that our development strategy is sound."

About Tishman Speyer (www.tishmanspeyer.com)

Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world's most prestigious corporations to meet their office space needs. As of September 30, 2012, the firm had acquired, developed and/or managed a portfolio of over 125 million sq. ft. with a total value of over USD $61.3 billion since its founding in 1978. Signature assets include New York's Rockefeller Center and the Chrysler Center, São Paulo's Torre Norte, Ventura Corporate Towers in Rio de Janeiro, and OpernTurm in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Brasília, Chengdu, Frankfurt, Gurgaon, Hyderabad, Paris, Rio de Janeiro, São Paolo, San Francisco, Shanghai, Suzhou and Tianjin.