Le mie ricette per la real estate communityAllianz Real Estate has signed a long-term lease with WeWork at the “Haus Friesenplatz” in Cologne. The transaction means that the first construction phase of “Haus Friesenplatz” has been fully let before its completion.
The retail and catering divisions respectively of the Cologne-based fashion house Weingarten and the Frankfurt-based catering company COA Asia Foods & Drinks signed up as tenants at the end of last year.
WeWork offers common office space for businesses of all sizes with flexible rental periods. It has more than 400,000 members worldwide and 400 locations in 26 countries – including ten locations in Hamburg, Berlin, Frankfurt and Munich. Allianz will hand over the space to WeWork in the spring this year.
The second construction phase has already begun
At Friesenplatz 2-14, offices, retail, dining and living areas with a total of around 15,500 square metres of floor space will be built in two phases. In addition, 111 parking spaces will be created.
The second construction phase of “Haus Friesenplatz”, in which Allianz is creating a 6,600 square metre space for offices, retail and high-quality living in a premium downtown location, is progressing quickly. Demolition activity has been underway in the courtyard since the beginning of January and should be finished by March this year. Allianz Real Estate plans to complete the second phase of construction by the end of 2020.
Fashion house Weingarten, which has had its headquarters there since 1930, was a tenant of the previous property owned by Allianz. The business has expanded its presence in the course of the new construction by renting about 2,200 square metres of retail and storage space. Business in the new “Ladies’ Quarter” has been up and running since December 2018.
The Frankfurt-based catering company COA Asian Food & Drinks is aiming to open a restaurant on the ground floor of “Haus Friesenplatz” in March 2019.
The demand for modern, connected office space with a flexible room layout in Cologne remains high. The office space is being marketed exclusively by the consulting firm JLL Cologne. The Cologne-based architecture firm msm meyer schmitz-morkramer designed the new building with a ground floor plus six floors.
The Frankfurt-based firm Lang & Cie. Rhein-Ruhr Real Estate AG will act as general contractor for the building’s construction.
Source : Company