LONDON, UK: CLS Holdings has secured three significant new leases, amounting to 3,566 sqm (38,384 sq. ft), in Berlin and Cologne, Germany.
At “Flexion”, Kaiserin-Augusta-Allee 112-113, located in Berlin-Mitte on the river Spree, CLS has secured two new major corporate tenants. Hologic Deutschland GmbH, a leading US medical equipment manufacturer, has signed a seven-year lease for 1,016 sqm (10,936 sq. ft) and Tower Productions, a German television producer, has signed a five-year lease for 1,797 sqm (19,343 sq. ft) of space.
CLS purchased the 8,712 sqm (93,775 sq. ft) property in Berlin-Mitte in early 2021 with approximately 30% occupancy. Now, after successfully repositioning it in the market, Flexion is approximately 80% let.
The third lease is for 753 sqm (8,105 sq. ft) on a five-year term with property manager Ecowo at Office Connect, Wilhelm-Jacob-von-der-Wettern-Strasse 27, Cologne. The multi-let property is located in the Cologne Airport Business Park and has a total of 13,000 sqm (139,931 sq. ft) of lettable space spread over eleven floors. The property is now 96% let.
On a combined basis, these three leases, were completed at 4.9% above ERV.
Fredrik Widlund, Chief Executive Officer of CLS, commented: “These lettings further confirm that the demand for high quality office space remains strong in Germany. These properties offer well-located and flexible office space close to public transport and within easy reach of their respective city centres. These leases also highlight the significant benefits of having a dedicated in-house asset management team with local expertise. We look forward to working together with the new tenants to create a sustainable and attractive space for their employees.”