International recruitment services provider Hays has extended its lease in the Frankfurt office complex 'Die Welle' early and on a long-term basis. The decision was made as part of a structured location review process in which existing market options were weighed against remaining in the current property. Advisory firm Colliers accompanied the entire leasing process in a dual role: whilst the Frankfurt office letting team provided strategic advice to the tenant, the landlord representation team advised investment manager Invesco Real Estate on the owner's side.
Realignment of space during ongoing operations
As part of the extension, Hays secures around 2,000 square metres of office space going forward, which will be redesigned into a modern working environment. According to Ulrich Otterbein, Head of Corporate Real Estate at Hays AG, the specific qualitative and quantitative requirements will be implemented without disrupting ongoing operations. Partnership and flexibility were the supporting foundation for the continuing loyalty to the location.
The building complex directly adjacent to the Alte Oper is one of the well-known landmark properties in Frankfurt's Central Business District. The property's modular architecture enables flexible space concepts with rental units ranging from approximately 300 square metres up to 3,500 square metres on a single level. This variable structure allows tenants to implement altered usage concepts directly at their established location.
Securing the location in Frankfurt's Central Business District
Leo Maximilian Mendig, Head of Office Letting at Colliers in Frankfurt, emphasised that the structured stay-or-leave process demonstrated how adaptably central locations can respond to changing occupier requirements when provided with the corresponding space flexibility. Martin Schwaiger, Senior Director Landlord Representation at Colliers, highlighted that the agreed solution meets both the space requirements of the service provider and the strategic objectives of the owner.
Invesco Real Estate also views the transaction as an endorsement of the complex. Cihan Kilinc, Director Investment Management at Invesco Real Estate, explained that the tenant's choice underlines the quality of the location and the importance of flexible office concepts in a prime city-centre location. Continuous investment in the further development of the property deliberately ensures the long-term viability of the asset.
- —Tenant: Hays AG (international recruitment services provider)
- —Floor space: approximately 2,000 square metres of office space
- —Property: Office complex 'Die Welle' near the Alte Oper in Frankfurt
- —Landlord representation and advisory: Invesco Real Estate, advised by Colliers
