Frankfurt am Main / 21.03.2024 – The real estate investor and asset manager NAS Invest (“NAS”) has secured another major tenant for the Horizon Tower and concluded a long-term lease agreement with the subsidiary of a globally active German technology company. The agreement covers almost 3,300 sqm of office and storage space as well as 85 parking spaces. This gives the Horizon Tower, which was built in 2003, an occupancy rate of around 85 percent. NAS acquired the property on Alfred-Herrhausen-Allee in Eschborn, which has a total rental area of around 41,000 sqm, in fall 2022. The building currently still has the “BREEAM Very Good” green building certificate and is expected to achieve the “BREEAM Excellent” rating in the course of this year. In this context, extensive measures are currently being implemented with the aim of aligning the property even more closely with ESG criteria. The tenant was advised on the letting by Cushman & Wakefield, NAS by Proks Real Estate.

With the conclusion of the contract, NAS is continuing its series of successful lettings in 2023 into 2024. Despite the fundamentally challenging environment for office lettings, the Frankfurt-based company was able to take up a total of around 25,000 sqm of newly let or extended space in the metropolitan regions of Frankfurt, Leipzig, Munich and Nuremberg last year.

The largest single letting was reported by the Air Campus in Nuremberg with an international IT and mobile communications company, which will occupy almost 10,500 sqm on a long-term basis. However, other large-volume lettings were also achieved in the property on Thurn-und-Taxis-Straße in Franconia’s largest city. A new tenant rented more than 5,000 sqm and an IT consultancy extended its lease by around 2,000 sqm. All leases were concluded on a long-term basis. NAS acquired the Air Campus, which comprises a total of more than 53,000 sqm of rental space, including almost 49,000 sqm for office use, in mid-2019. The property is almost fully let with an occupancy rate of 97%.

The same applies to the Senckenberg Tower in Frankfurt, which NAS acquired at the turn of 2019/2020 and which was completed in early 2022. With the successful and also long-term lettings in the past year, the property with its 25,700 sqm of office space and a further 1,300 sqm of other space is currently almost fully occupied. In the fourth quarter of 2023 alone, rental agreements with a volume of 3,400 sqm were concluded. Almost 95% of the high-rise building is now let and demand for the remaining 1.5 floors remains high.

NAS achieved further long-term letting successes in 2023 in its Forum am Mariannenpark property in Leipzig and the Albatros property in Hallbergmoos just outside Munich.