Immoraum Real Estate Advisors brokered an office property in Stuttgart-Möhringen to Immo Cube GmbH. The seller of the property was a family office from Denmark. The transaction was conducted as an asset deal; the parties have agreed not to disclose the purchase price. Immoraum acted as broker in the process.
The property is located in an established commercial area in Stuttgart-Möhringen. Companies such as Züblin and the Kassenärztliche Vereinigung Baden-Württemberg (KVBW) are situated in the immediate vicinity. The property was constructed around 1979 and comprises a total above-ground area of approximately 2,700 square metres on a plot of around 3,500 square metres. Additionally, 38 parking spaces are available. The building presented itself in a well-maintained condition typical for its construction year and had been used as a single-tenant property since its erection, though it was recently vacant.
Strategic Revitalisation and Repositioning
Immo Cube GmbH plans a comprehensive revitalisation of the office property, with the aim of subsequently letting it as a multi-let asset. In the course of this repositioning, initial lease agreements have already been concluded, including with a fitness studio, which underlines the potential of the location and the attractiveness of the concept.
Sven Kersten, Managing Director Investment at Immoraum, commented on the transaction, emphasising that office properties with development potential continue to be successfully brokered even in a selective buyer's market. This applies particularly to established Stuttgart sub-markets that possess a functioning user environment. He explained that marketing processes today require significantly more time, clear positioning, and a reliable re-letting concept.
The successfully concluded initial lease agreements serve as confirmation of the location quality and the attractiveness of the intended repositioning. The transaction in Stuttgart-Möhringen thus illustrates the current requirements and opportunities in the market for development properties.
