Commerz Real reports strong leasing performance in first half of 2016
Increase of 10,000 square metres year-on-year
Largest leasing volume on the Frankfurt real estate market in 2016
In the first six months of the year Commerz Real leased out approx. 191,000 square metres. This is some 10,000 square metres more than in the same period of the previous year. Around 70 per cent of this was accounted for by the office sector and ca. 30 per cent by the shopping segment.
We can look back with satisfaction on a strong first half of the year,
concludes Roland Holschuh, the board member responsible for Real Estate Management at Commerz Real.
With nearly 80 per cent, the majority of all leases were accounted for by the open-ended real estate fund hausInvest. In this respect the highest volume of new leases was posted by Commerz Real in Japan Center, Frankfurt am Main (ca. 17,800 square metres to the European Central Bank), in the Milan office building “Torre Alfa” (ca. 12,000 square metres to the ratings agency Cerved), in the Paris office complex “Place de Seine” (ca. 3,900 square metres to various tenants and thus fully leased) and in the shopping centre “Armazéns do Chiado”, Lisbon (ca. 2,700 square metres to Mango). In the case of Japan Center, according to figures from Commerz Real, this is the largest leasing volume to date in 2016 on the Frankfurt real estate market.
With the closed-end funds in the CFB series the largest leasing performances were posted in the office complexes “Euro Alsace”, Paris (ca. 16,000 square metres to the French state-owned railway company ÉPIC SNCF) and “quatron”, Düsseldorf (extension option and expansion to ca. 8,500 square metres through Bau- und Liegenschaftsbetrieb Nordrhein-Westfalen).
We assume that the recovery on a large number of rental markets in Europe will continue even if we do not expect the same dynamism in floor space required that the capital markets have experienced in recent years,
We are continuing along our path of active asset management and proximity to clients, and are very confident for the second six months of the year