SEGRO CityPark Frankfurt fully let after seven months
SEGRO has fully let the entire 14,200 square meters of rental space in the first phase of the speculatively built SEGRO CityPark Frankfurt just seven months after completion.
Most recently, four new tenants were won for a total of 8,600 square meters.
The tenants are Deutsche Post Immobilien GmbH, represented by CSG GmbH, Stahlgruber GmbH, Schmitt and Orschler GmbH & Co. Farben- und Heimtex KG Schmitt and Orschler (Sundo) and Euromams Handelsgesellschaft mbH.
Stahlgruber GmbH specializes in wholesaling and retailing of vehicle accessories, vehicle spare parts and workshop equipment as well as the resulting services and rents 2,600 square meters. While the company, which is expected to move in in February 2021, will use the hall space as storage space, the service and office space will be used for administration and training. Sundo, a wholesaler of paint, wallpaper, flooring, thermal insulation composite systems and painting tools, is expected to lease 1,200 square meters from November 2020. The trading company Euromams is expected to lease 1,200 square meters from October of this year. In addition, Deutsche Post Immobilien GmbH will lease 3,200 square meters from probably January 2021.
The first construction phase of SEGRO CityPark Frankfurt was speculatively developed by SEGRO on a 14.5 hectare site used by the US military until 2008. The areas, which were completed in early 2020, could be flexibly divided into different units from 1,000 square meters. They each consist of storage, service and office space. In the next phase, a commercial park with around 20,000 square meters of rental space will be created, which is expected to be completed by the end of 2021.
“Regardless of the economic challenges posed by the consequences of Covid-19, we continue to see very high demand for our urban commercial spaces. This is illustrated by the full occupancy, which we were able to achieve after just over six months. Our medium-sized tenant structure benefits from the park's pronounced flexibility across all sectors," says Janina Kaya, Senior Leasing Manager at SEGRO.
With its modern design and construction according to DGNB Gold certification, the business park is integrated into the inner-city area at Graugrafenstraße 24 in Frankfurt-Rödelheim. Several bus and S-Bahn lines also offer good connections. The A 5 and A 66 motorways can be reached in a short time via the A 648 via the Frankfurt-Rödelheim junction.
Right next to the area is a 2.5-hectare meadow landscape, which SEGRO renatured in 2019 and handed over to the city of Frankfurt am Main. Bird nest boxes and insect hotels were also installed as a contribution to nature.
The real estate agent Immolox acted as intermediary for the lease to Deutsche Post Immobilien GmbH, represented by CSG GmbH, the real estate consultancy Knight Frank for the lease to Sundo and the real estate consultancy JLL for Stahlgruber GmbH.
SEGRO is a British Real Estate Investment Trust (REIT) listed on the London Stock Exchange in the FTSE 100 index. With a portfolio of 8 million square meters worth EUR 14.4 billion, SEGRO is a leading owner, manager and developer of modern logistics and commercial real estate. SEGRO's owned and managed properties are strategically located in the UK (in London and the South East and Midlands regions) and in continental Europe in France, Germany, Italy, Poland, Spain, the Netherlands and the Czech Republic.
For 100 years, SEGRO has been creating areas that make extraordinary things possible. From modern logistics real estate, primarily used as regional, national and international distribution centers, to urban commercial real estate near major population and economic centers, the company offers high-quality properties that support the growth of SEGRO's clients.