Hines, the international real estate firm, has won the lifestyle brand Marc O’Polo as a new tenant for the residential and commercial building at Kärntner Street 9 in Vienna. The first store in the new the scandinavian studio concept will occupy 200 square metres at the prime site and open its doors at the end of September. Together with the already opened flagship boutique Nespresso Atelier, the retail space at the location is now fully leased.
Since taking over the asset management mandate, Hines has been working on the strategic realignment of the residential and commercial building. In particular, the changing retail requirements are being considered. The space, which was originally large and contiguous over several floors, has been divided into smaller units that can be used sustainably. Modernised space for office and residential tenants will be created on the upper floors. The property is part of a portfolio of a total of eight properties in Germany, Austria and France for which Hines has taken over the active asset management on behalf of an institutional investor.
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. With the new opening, Marc O’Polo gains a coveted premium positioning and further expands its own distribution.
Christoph Reschke, Managing Director at Hines Immobilien, said: “Just like Nespresso, the brand is an excellent fit for our property and its prime location. The two leasing successes in a challenging retail market is testament to our strategy that great buildings in prime locations will survive and thrive. In addition, we are conducting a series of talks for the leasing of the office space on the upper floor with the aim of achieving a suitable and sustainable user mix.”
Credit image : Romana Furnkranz