This modern, eight-storey office complex in Munich is located right next to the green spaces of Luitpoldpark and within walking distance of the famous Leopoldstraße shopping mile. The property, extensively renovated in 2008/2009 and offering overall space of approx. 10,500 m² and flexibility when it comes to options for space division, is located in the popular submarket in Schwabing. It stands out thanks to first-rate public transport links and a wide range of restaurants, amenities and unique leisure opportunities in the immediate vicinity.
The property was acquired at the end of 2013 and sold to investment and asset manager KGAL in mid-2015. In the approx. 1.5-year holding period, successes in leasing more than 6,500 m² saw the average lease agreement term almost triple – from approx. 2 to over 5.5 years. The average rent per m² increased by almost 7%. This led to the property being leased solely to tenants with a high credit rating and based on a balanced multi-tenant structure at the time of sale.
|Address||Destouchesstraße 68, Munich|
|Type of project||asset management|
|Overall rental space||11 m2|