Union Investment reports a significant letting in Frankfurt's Aqua Tower. The first two upper floors of the office tower have been handed over to SPARK. SPARK, specialising in the development and operation of high-quality, technology-oriented event, meeting, and hospitality spaces for businesses, occupied the approximately 2,000 square metres of office space at the beginning of October.
The concluded lease agreement has a term of twelve years. This transaction brings the Aqua Tower's occupancy rate to 99 per cent. Sven Lintl, Head of Asset Management Germany at Union Investment, commented on the development, emphasising that the almost fully leased office tower demonstrates the continued appeal of modern and flexible spaces in established locations, even in a challenging market environment.
Location and acquisition of the Aqua Tower
The Aqua Tower is strategically positioned in Frankfurt city centre, in the heart of the banking district. It is one of four high-rise buildings in the FOUR Frankfurt quarter, an innovative development project. Union Investment had already acquired the office tower in 2018 as a development project for the portfolio of the open-ended real estate public fund UniImmo: Deutschland. The completed building, with a rental area of approximately 24,000 square metres spread over 25 upper floors, was handed over by the project developer Groß & Partner on 1 November 2023.
Significance of the transaction
The current letting underscores the demand for prime office locations in Frankfurt am Main. It also confirms Union Investment's investment strategy, which focuses on providing quality spaces in central locations. The long-term commitment of a tenant such as SPARK speaks for the attractiveness of the location and the quality of the FOUR Frankfurt building ensemble.
The almost complete occupancy of the Aqua Tower reflects the resilience of the real estate market for high-quality office properties in metropolitan regions. The continued willingness of companies to invest in modern and future-proof working environments remains a key indicator for the dynamics of the German real estate market.
