IVG announces pre-let for 9,300-m[sup]2[/sup] office in Hamburg

German-listed real estate company IVG Immobilien has announced that its investment and development units are working together to develop a 9,300-m² office building in Hamburg. The entire property is pre-let to Hermes Logistik.

IVG Development will develop the building on a site owned by IVG Investment in the north of Hamburg. The new property will be constructed next to an office building which is also used by Hermes. The four-storey building with an additional penthouse level will be linked to the existing building, also built by IVG by a connecting wing. The new block of buildings is going to be used by Hermes as the new company head office. The rental contract with Hermes will run for 10 years. Construction will begin early in 2009 and handover to the tenant is scheduled for the spring of 2010.

IVG Immobilien is one of Europe's major real estate companies and manages assets of more than EUR 20 bn in its IVG Investment, IVG Funds, IVG Development and IVG Caverns business areas.