Hannover Leasing acquires Düsseldorf office building for €55m

Hannover Leasing, a subsidiary of Corestate Capital, has acquired an office building in Düsseldorf-Oberbilk on behalf of a new mutual investment fund.

The new building was sold by the Essen-based project developer KÖLBL Kruse for a price of €55 mln.

The asset is fully leased with a 15-year term to Unfallkasse NRW which will move in with around 500 employees by the end of next year.

Designed by renowned Düsseldorf architects RKW Architektur +, the building provides around 12,100 m2 of space and is located at the International Trade Center in Oberbilk, an inner-city urban borough in southeast Düsseldorf.

'The Düsseldorf office market is characterized by high demand and scarce supply – the vacancy rate is currently around 7%, east of the center even down to about 4.4%,' said Markus Müller, managing director of Hannover Leasing.

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