- Gutted existing property from 1992
- Implementation of an innovative office project with flexible office space planned
- Completion targeted by 2026
(Munich/Frankfurt am Main, July 2021) State-of-the-art, flexible office space in the heart of Germany's financial center Frankfurt am Main – CV Real Estate AG has now acquired a former office property with 13 floors at Mainzer Landstrasse 23, directly in the banking district of the Hessian business metropolis, from the Adler Group. The Munich-based project developer plans to realize a forward-looking, innovative office project on the site of the gutted existing property that will meet the requirements and demands of New Work. Thanks to its proximity to Frankfurt's main train station, the location is impressive for its quick accessibility to Frankfurt Airport and the trade fair grounds, among other things. A modern high-rise is to be built here by 2026, offering new, flexible New Work office space. "Thanks to ideal transport links, the prime location and thanks to our innovative project plan, we see enormous potential in this property, which is currently still lying fallow, and which we will now definitely bring to light – in line with the standards of sustainable and therefore future-proof construction – that will live up to the future image of a climate-neutral Frankfurt," says Christian Vogrincic, member of the Management Board and CEO of CV Real Estate AG: "We are very happy that we can now take off in one of the most interesting and exciting real estate markets in Germany and play a key role in shaping the future cityscape of Frankfurt." CV Real Estate AG was advised on the transaction by FPS Partnerschaft von Rechtsanwälten mbB. This was done for the Adler Group by bhp Bögner Hensel & Partner. The purchase volume of the project was in the three-digit million range. The parties agreed not to disclose the exact purchase price.
One of the strongest economic centers in Germany, one of the leading financial metropolises in Europe – Frankfurt am Main is one of the most important real estate locations for office projects. Apart from the financial sector, the Hessian metropolis is also attractive as a European Internet hub, especially for companies from the forward-looking digital industry. "The home office and the new, digital way of working have changed the demands on a modern, networked office property," says Anatol Obolensky, CEO and COO of CV Real Estate AG: "With an innovative office concept, we now want to take this very development into account in this project and set standards in the New Work sector."
Demand for modern office real estate remains high
In the immediate vicinity of the Taunusanlage and Frankfurt's well-known bank towers, the office property will in future offer leading companies from Germany and around the world flexible office space with the best possible digital equipment. "The importance of state-of-the-art office space that has correctly understood and sustainably implemented the new requirements of the working world has recently increased enormously – especially in leading business locations such as Frankfurt," says Christian Vogrincic: "The acquisition of this office tower thus offers us a huge opportunity in this steadily growing market, which has by no means exhausted its potential." After no redesign or project development had become apparent on the Mainzer Landstrasse site prior to acquisition by CV Real Estate AG, the construction of the planned office property by the Munich-based project developer now falls directly within the current, forward-looking transformation that the Hessian business metropolis is currently undergoing in terms of urban development. With the planned project, CV Real Estate AG would like to contribute a further building block to this sustainable and innovative future design of Frankfurt, which could serve as a blueprint for other major cities in Germany.
Further forward-looking projects in the pipeline
Apart from the project development in Frankfurt am Main, the Munich-based real estate and investment specialist is currently also active in Munich, Hamburg, Nuremberg and Augsburg, among other cities. While CV Real Estate AG is building a residential complex with 280 ultra-modern apartments in the Franconian metropolis as part of the Lichtenreuth project development, innovative and flexible office and retail space is being created on one of the most interesting development sites in southern Germany – the former Ladehöfe Augsburg.