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  • Frankfurt am Main: NAI apollo brokers deals for around 1,600-sqm of office space

Frankfurt am Main: NAI apollo brokers deals for around 1,600-sqm of office space

Frankfurt am Main, 24.07.2017 – Owner-managed real estate consultancy NAI apollo – a partner of the NAI apollo group – brokered lease contracts for around 1,600 sqm of office space in Frankfurt am Main in the last four weeks. The space is distributed among five locations.

The largest single contract involved a letting for KARG Vermögensmanagement AG at 31, Friedrichstraße, where an asset manager rented around 430 sqm in a quiet area of the Westend district. The property was last fully refurbished in 2016. The second-largest contract brokered by NAI apollo concerned a 380-sqm office space close to the central railway station at 8, Hauptbahnhof.

Radomir Vasilijevic, Head of Office and Retail Letting at NAI apollo, says: "There is strong demand for office space in central locations. The vacancy rate in Frankfurt currently stands at around 10 % and shows signs of declining further. It will also be interesting to see what effects potential Brexit-related deals will have on the market. We expect to see the first movements here in the second half of 2017."

NAI apollo also arranged the letting of a 345-sqm office space at 15, Lyoner Straße. Hochschule Fresenius, the university of applied sciences, is expanding in Frankfurt and has rented space in the ATRICOM office block. The office property includes a total rental area of 45,000 sqm and is one of the largest buildings in the "Lyoner Viertel". Meanwhile, a new cosmetics salon will open for business from August 2017 on a 270-sqm space at 72, Kaiserstraße near the central railway station. Finally, 180 sqm has been let to an association at 74, Niddastraße. The landlord is a private individual. NAI apollo advised the tenant in all of the transactions described above.

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