Europa Capital, the pan-European real estate investment manager announces, in partnership with Bayern Projekt, its fourth pre-let at the Olympia Business Centre (the “OBC”), a landmark 38,000 sq m office refurbishment project in Munich, Germany, on behalf of its value-add fund, Europa Fund V.
DAIWA, the premium Japanese fishing equipment manufacturer, has agreed to let 1,500 sq m of space on a 10-year lease. DAIWA will be relocating from Gröbenzell to the OBC, which will serve as the business’ new German headquarters.
The letting increases the total occupancy of the asset to 50% following recent lettings to Stadtwerke München, the municipal utility company (for c. 10,000 sq m) and the Department of the Bavarian Criminal Police Office (for c. 5,300 sq m).
Additionally, the OBC has been awarded a WiredScore Platinum certification, an internationally recognised award, for its connectivity and digital infrastructure. Europa Capital and Bayern Projekt have implemented a comprehensive refurbishment of the OBC over the last three years to improve the quality of the indoor and outdoor space, as well as to enhance the building’s flexibility.
The upgrade of the ground floor common areas is already complete, including a recently opened “Markthalle” (market hall) concept for employees, which has been designed to foster co-eating and co-working. The canteen will be operated by V&K Tailor Made Catering GmBH, which signed a 10-year lease for its first restaurant in the city in February 2020. The remaining works are expected to be completed in early 2021.
Source : Company