(Vienna, Austria) – Hines, the international real estate firm, announces a new lease with Nespresso in Vienna's Kärtnerstrasse. The future anchor tenant has leased three floors and is also planning a new Nespresso flagship boutique at the location. Since taking over the asset management mandate, Hines has been working on the strategic realignment of the residential and commercial building at number 9. Handover to Nespresso has already taken place with opening scheduled for March 2021.
Christoph Reschke, Senior Managing Director at Hines Immobilien, says: "We are very pleased about the successful new lease, especially in this thoroughly challenging market environment for retail properties. With Nespresso, we have gained a renowned tenant who is an excellent match for the property and the prestigious address in Vienna's city center. The leasing success shows that our concept for the realignment of the property is convincing. At the same time, we have started marketing the other spaces, aiming for a balanced tenant mix."
Hines took over active asset management for the property in early 2020, along with seven other mixed-use properties in Germany, Austria and France. All assets are owned by a German pension fund. The realignment at Kärtnerstrasse is taking place in response to changing retail requirements. The space, which was originally large and contiguous over several floors, is being divided into smaller units that can be used sustainably. Modernized space for office and residential tenants will be created on the upper floors.
The property is located in Austria's most popular shopping street and the capital's old city center. Apple and Swarovski, as well as many other well-known retailers, are in immediate vicinity.
Hines was advised by DPC Real Estate and BNP Paribas.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion1 of assets under management, including $75.5 billion for which Hines serves as an investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totalling 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organisations in the world. ¹AUM includes both the global Hines organization as well as RIA AUM.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 55 cities in 13 countries, with €22.7 billion of assets under management, including €19.8 billion for which Hines serves as an investment manager and €2.9 billion for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Since the opening of its site in Germany in 1991, Hines has acquired or developed a total of 59 properties with an overall surface area of over 2.4 million m² for Hines or on behalf of external clients, including properties such as the Main Tower, 160 Park View and the Silberturm in Frankfurt, Zoom and Quartier Südkreuz in Berlin, Hofstatt, Uptown München, Tucherpark and OSKAR in Munich, the Überseequartier Nord district in Hamburg, the Benrather Karree and Kö-Quartier in Düsseldorf, and the Postquartier and Kronprinzbau 1+2 in Stuttgart. Hines currently manages property in Germany with an overall value of around €7.2 billion as an asset and development manager.
Visit www.hines.com for more information.