DIC Asset signs two major leases at MainTor

German-listed property company has agreed letting contracts for 17,000 m2 at its development project in Frankfurt's financial district.

CMS Hasche Sigle, an international legal and business consulting firm, has rented more than 9,000 m2 in the MainTor Panorama office building and will vacate its current premises in Frankfurt's Westend district (Barckhausstrasse 12-16) by mid-2015.

The lease represents around 70% of the rental space at the Panorama building.

In a second leasing deal, Union Asset Management Holding, part of Union Investment, has rented another 8,000 m2 at DIC's MainTor Porta. The deal means Union Asset Management will occupy the entire lettable area in this office property after signing a rental agreement for nearly 14,000 m2 in the building last year.

The MainTor/Riverside Financial District is progressing well ahead of schedule with around 60% of the project volume now already realised.

MainTor Porta is owned by DIC Asset. The building involves an investment volume of €140 mln and was designed by architects firm KSP Jürgen Engel Architekten. The building has been under construction since last year and is scheduled for completion in spring 2014.

Construction work on MainTor Panorama, with a project volume of €110 mln, will commence during the first half of 2013. The property will be completed by DIC and ready for occupation by mid-2015.

DIC Asset AG acts as co-investor and holds a 40% stake in the development of the quarter.

Ulrich Höller, CEO of DIC: 'These major letting contracts once more underline the fact that the MainTor Quarter has already made a name for itself as superior location and first-rate product in Frankfurt's banking district.'