Hines Interests Limited Partnership

05/13/2020 | Press release | Distributed by Public on 05/13/2020 06:21

Hines Achieves Full Occupancy of Commercial Properties at Südkreuz

(BERLIN) - Hines, the international real estate firm, has fully leased the commercial space at Südkreuz ('Stadtquartier Südkreuz') prior to its completion. With the revitalization of Schöneberger Linse neighborhood, Hines is currently developing a new urban area in the middle of Berlin. In addition to 664 apartments, 10,300 square meters of high-quality office and commercial space is being created in a separate building. Long-term leases have now also been signed for the last commercial units. 113 square meters is currently being used as a leasing office, since the marketing of apartments in the city quarter Südkreuz has just begun.

The anchor tenant of the commercial property is energy supplier ENGIE Deutschland. In addition to the 4,700-square-meter lease, the company will also occupy an additional 1,150 square meters on the ground floor. Autobahn GmbH des Bundes will also relocate their capital city branch office to the city quarter Südkreuz. The federal government company that administers the motorways in Germany has leased over 1,900 square meters on the 5th and 6th floors of the building. With the exception of a remaining unit on the 6th floor, all rentable space is scheduled to be handed over to the tenants in June.

Joachim Wintzer, managing director at Hines, says: 'We are pleased about the great interest and the full occupancy of the commercial space in our city quarter Südkreuz. Overall, we have attracted a diverse tenant mix with an extremely good credit rating, which is a perfect fit for the quarter and will promote our guiding principle of interactivity among its users as well as exceed our investors' demand for security. We offer our tenants top quality in a prime location.'

Hines is also developing a completely new quarter on more than 20,000 square meters close to the city centre in Schöneberg with a wide-ranging offer of community amenities. The long-term objective is to enhance the district's attractiveness. The area is also ideally connected to the A100 motorway, the Südkreuz railway station for local and long-distance travel and the future BER airport. The Berlin city center can be reached by public transport within minutes. The future tenants will enjoy an aesthetic concept, especially due to the variations in the façade elements of the individual buildings. In addition, a DGNB Gold Certificate from the German Sustainable Building Council for particularly sustainable construction is being pursued.

Jones Lang LaSalle and Avison Young consulted on the leasing.

For further information about the city quarter Südkreuz please visit: www.südkreuz.com

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm's current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.