By Adriana Pop, Associate Editor
Frankfurt, Germany—Tishman Speyer and its joint venture partner, Commerz Real AG, have announced the signing of the first three lease transactions at the TaunusTurm office project under construction in Frankfurt. Combined, the leases total approximately 87,200 square feet and involve HVB Gesellschaft für Gebäude und Beteiligungen, King & Spalding LLP and Schroder Investment Management.
Under its new agreement, HVB Gesellschaft für Gebäude und Beteiligungen, a wholly owned subsidiary of HypoVereinsbank, will be taking up about 52,743 square feet across three floors. The company plans to relocate from its current offices at “An der Welle” to the TaunusTurm tower by early 2014. NAI Apollo represented HVB in the transaction.
International law firm King & Spalding LLP will be occupying around 17,222 square feet. The firm plans to relocate from Taunusanlage 1 to its new space by early 2014. Cushman & Wakefield brokered the lease on behalf of the tenant.
Schroder Investment Management will also be taking up 17,222 square feet of space in the new building, and plans to relocate by mid-2014. NAI Apollo represented the company in the lease negotiations.
Designed by Gruber + Kleine-Kraneburg Architekten, the slender 40-story TaunusTurm tower is scheduled to open in January 2014. The property will be located in the heart of Frankfurt’s banking district and will offer approximately 645,800 square feet of office space. Amenities will include hospitality outlets on the ground floor, a restaurant for staff and guests, and a business club with conference space. Upon completion, the building is expected to be the city’s first new high-rise to achieve international LEED Platinum certification.
“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.”
Preceded by the successful MesseTurm and OpernTurm projects, the TaunusTurm office tower is Tishman Speyer’s third high-rise development in Frankfurt/Main. Next to the new building, the US developer and investor is also planning a landmark residential tower.