LBBW Immobilien reports comprehensive letting success in Stuttgart's Schlossgartenquartier. The internationally active commercial law firm Gleiss Lutz will occupy approximately 10,000 square metres of office space within the Königstraße 1 sub-project. This lease secures one of the state capital's prime office addresses for the law firm and leads to the full occupancy of the office space at Königstraße 1, already about two years ahead of the building's planned completion in 2028.
During the execution of this transaction, the lessor, LBBW Immobilien, was advised by the legal firm CMS Hasche Sigle Partnerschaft. The lease agreement for the lessee was brokered by blackolive advisors. The conclusion of this agreement underscores the attractiveness of the Königstraße 1 location.
Location Qualities and Project Significance
Ralf Hoffmann, Managing Director of LBBW Immobilien Management Gewerbe GmbH and responsible for lettings in the Schlossgartenquartier, emphasised that companies today place high demands on their office locations. He noted that alongside sustainability and space quality, accessibility and prestige are particularly crucial. Königstraße 1 combines these aspects. He remarked that with Gleiss Lutz, a user had been secured who appreciates these qualities and further strengthens the location.
Königstraße 1 is situated directly opposite Stuttgart's main railway station and, as the first building in the Schlossgartenquartier, marks the entrance to the city's most important shopping street. The project transforms an existing building into a modern and multifunctional property, integrating offices, retail and gastronomy across approximately 13,000 square metres of total rental space. Marco Knopp, spokesman for the management board of LBBW Immobilien, highlighted that Gleiss Lutz's decision represents a strong signal for Stuttgart as a business location and confirms the project's quality. The early full occupancy of the office space demonstrates the appeal of the Schlossgartenquartier and the demand for premium space in central locations. He added that the Schlossgartenquartier is creating a new urban quarter that combines work, encounters, and urban life.
Commitment to Stuttgart as a Business Location
On the tenant's side, the decision was interpreted as a long-term commitment to the state capital. Dr. Johann Wagner, Co-Managing Partner at Gleiss Lutz, explained that the new property offers a modern, forward-looking, and sustainable environment optimally tailored to the needs of clients and employees. He further stated that the central location, excellent infrastructure, and flexible building concept were decisive factors in the decision. With its commitment to Königstraße, Gleiss Lutz underscores its connection to Stuttgart and the region as a business location.
The entire Schlossgartenquartier, with its four sub-projects Hotel am Schlossgarten, Königstraße 1, Königstraße 1c, and Königstraße 3, comprises a total rental area of approximately 50,000 square metres. The central location and architectural design of the quarter are intended to make a significant contribution to the development of Stuttgart's city centre.
