Berlin-based Capital Bay GmbH has acquired an office property totalling around 14,000 m² in Frankfurt Niederrad. The building, which dates back to 1985, is part of the "Lebendige Bürostadt" Niederrad neighbourhood. The seller is a global investment manager for alternative investments. The purchase price is in the lower double-digit million range.
Capital Bay sees good opportunities to increase the value of the property through increased commercial utilisation. "The building has a higher vacancy rate, but is in very good condition. Niederrad is also an established office location with comeback potential," says Ralph Ziegler, Managing Director of CB Transaction Management GmbH. "In the long term, however, we can also imagine a conversion to residential use."
For some years now, the "Lebendige Bürostadt" Niederrad has been developing from a purely office location with around 25,000 employees into a mixed residential and office neighbourhood. More than 1,000 residential units have already been built and up to 10,000 people are expected to live here one day. The neighbourhood has excellent connections to the public transport network: Frankfurt city centre can be reached in 15 minutes and Frankfurt Airport in just 10 minutes. The A5 motorway is right on the doorstep.
