Hochtief Projektentwicklung has sold the Casanova mixed-use building in Stuttgart, Germany, to Plusalpina Real Estate Advisors, a subsidiary of Frankfurt-based property management group Conren Land. The companies agreed not to disclose the financial details of the transaction.
Hochtief Projektentwicklung has sold the Casanova mixed-use building in Stuttgart, Germany, to Plusalpina Real Estate Advisors, a subsidiary of Frankfurt-based property management group Conren Land. The companies agreed not to disclose the financial details of the transaction.
The 11-storey scheme offers around 12,000 m2 of rental space with a pre-let occupancy rate of almost 50%. Main tenants include Oesterle Orthopädie-Schuhmode and auditors BDO. Around 8,500 m2 is for office use while retail and storage facilities make up the remaining 3,500 m2. The complex - scheduled for completion by the end of 2011 - also offers 146 parking lots.
Colliers Bräutigam & Krämer acted as consultants for the vendor.
