AEW has acquired the newly developed office building The Run at Neumarkter Straße 75 in Munich, which is fully pre-let to the high-end fashion brand Bognar as its new German headquarters.
The asset was acquired from real estate developer neuplan as part of a pan-European investment strategy on behalf of a German pension fund.
Financial details were not disclosed.
The asset comprises 9,600 m2 of sustainably developed office space expanding across five floors designed by architect Thomas Sutor of Oliv.
While the façade has been designed to reflect the industrial character and past of the micro-location, the primary focus of the building is to meet the current and future occupier requirements which are focused on well located, prime workspaces with strong environmental and technological credentials.
The Run has achieved BREEAM Very Good and Wiredscore GOLD certifications and has e-charging stations across a full floor of the double-storey underground parking.
The luxury sports & fashion brand Bogner will move in to the asset this Autumn following the fit out of a multifunctional workplace consisting of open office spaces, project and meeting rooms as well as informal working spaces. In addition, the building will also feature in-house showrooms, a barista bar and a gym.
The asset is located in the up-and-coming Munich district of Berg am Laim, situated between Werksviertel and Leuchtenbergring and around four kilometers east of the city centre.
The Leuchtenbergring S-Bahn station, which is within walking distance, connects the location with Marienplatz in around 10 minutes and with Munich Airport in 35 minutes.
Lars-Henning Pylla, fund manager at AEW, commented: 'We see the area around Neumarkter Straße as an extension of the nearby and now fully developed Werksviertel, where a predominantly industrial area has also been transformed into a dynamic, attractive neighbourhood.
'The building’s prime location within the Munich Art District, coupled with its strong environmental credentials and focus on design and occupier wellbeing, created a highly attractive proposition that helped us attract such a prestigious future-orientated and international occupier as Bogner.'
AEW was advised on this transaction by Simmons & Simmons, Jones Lang LaSalle, BNP Paribas Real Estate and Nova-Ambiente.